Third-quarter GDP prospects bleak amid global downturn and structural constraints
The rand is likely to remain under pressure as SA continues to struggle, economist says
Despite a better-than-expected GDP outcome in the second quarter, economic indicators released so far point to a tough start for the third quarter, with persistent load-shedding and rand volatility continuing to pose significant challenges to growth, the latest EY economic outlook report reads.
EY chief economist Angelika Goliger said that while real GDP surprised to the upside in the first half of the year, expanding 0.6% quarter on quarter in the second quarter from growth of 0.4% in the first, the weeklong taxi strike in the Western Cape in August, the torching of trucks on the N3 in July and the slowdown in global growth will weigh on the outlook...
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.