The JSE opened flat on Tuesday on a recovery in Naspers and amid cautious trade ahead of the release of local GDP numbers later in the morning.The consensus view is for growth of 0.5% in the second quarter. The economy would then escape an official recession following the first quarter’s retraction of 2.2%. However, much depends on the volatile agricultural sector, with disappointing numbers from the sector increasing the likelihood of disappointing data."The agricultural sector is expected to have contracted substantially compared to the first quarter, while published trade data for the second quarter also point to another quarterly decline," said Investec chief economist Annabel Bishop.However, she said the country may avoid a technical recession by a fine margin.The rand was weaker in anticipation, falling to within a whisker of R15 to the dollar, before marginally recovering to R14.9874 from R14.9969.Naspers rebounded from a recent negative patch, gaining 1.45% to R3,251.59. Chi...
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.