Economy suffers worst slump since 1946 but 2021 should be better
Stats SA says the 7% contraction is the worst in 75 years, but Bloomberg says it’s worse than that
09 March 2021 - 12:08
UPDATED 09 March 2021 - 15:18
SA’s fourth-quarter economic growth data, which showed the economy grew at a seasonally adjusted and annualised 6.3%, wasn’t enough to offset the expected slump in full-year GDP, which contracted by 7% in 2020, Stats SA said on Tuesday.
The economy’s growth rate in the final three months of 2020 was better than the anticipated 5.6% adjusted quarter-on-quarter expansion predicted by the median estimate of 15 economists surveyed by Bloomberg prior to the release...
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