Rand extends losses as SA slips into second recession in under two years
Economic data released on Tuesday shows SA entered a technical recession in the last half of 2019
The rand was weaker on Tuesday morning, extending losses after data showed SA’s economy slipped into a deeper recession than economists had forecast
SA's economy contracted 1.4% in the last three months of 2019, worse than the 0.2% fall expected in the Bloomberg forecast. This followed a 0.8% drop in GDP during the third quarter. This means SA entered a technical recession in the last half of 2019 — meaning two consecutive quarters of contraction...