Confidence-sapping in the era of a long downswing
Stark choices must be made to lift the economy out of a prolonged decline that has led to business cutbacks and investment withdrawals
29 August 2019 - 05:07
SA’s recent economic performance has been gloomy in the extreme. With the current business cycle downswing already the longest on record, the need to turn things about is ever more urgent. And because the global economy is unlikely to provide the trigger, SA must create its own.
The current economic downswing started in December 2013. In that year growth peaked at 2.5%, and after consistently slowing in the subsequent years it is likely to be just 0.5% in 2019. This makes the downswing unique in three respects...
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