GDP drops an annualised 51% in second quarter
The rand dropped 1.14% on Tuesday afternoon as Stats SA revealed that the economy fell 16.4% on a non-annualised basis
08 September 2020 - 12:06
UPDATED 08 September 2020 - 13:23
SA’s dire economic position was thrown into stark relief on Tuesday with Stats SA revealing that the economy shrank by an annualised 51% during the second quarter, the worst quarterly collapse on record.
After opening on Tuesday morning at just above the R16.7/$ mark, at 1.14pm the rand had weakened 1.14% to R16.9245/$, its worst one-day drop since August 31. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.