Rand falls in the wake of GDP shock
SA’s economy contracted 3.2% in the first quarter of 2019, a slump from the expansion of 1.4% in the last three months of 2018
04 June 2019 - 15:28
The rand weakened more than 1% on Tuesday afternoon following the announcement that first-quarter GDP suffered its biggest drop since the financial crisis in 2009.
In the first quarter of 2019, SA’s economy contracted 3.2%, a big drop from the expansion of 1.4% in the last three months of 2018. Bloomberg’s consensus was for a contraction of just 1.6%. ..
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