With little to no economic growth in SA, investors need diversified portfolios
The inflexibility of the local labour market means we probably have not yet seen the full extent of unemployment
29 September 2020 - 05:00
The reality is that the SA economy is likely to continue to struggle. The country entered the Covid-19 crisis in a precarious fiscal position with an economy that has been in a state of decline for several years. Given the length and severity of the lockdown — one of the harshest globally — it should be no surprise that GDP contracted 51% in the second quarter of 2020 based on annualised, quarter-on-quarter numbers.
This contraction came on the back of three successive quarters of contraction and an average growth rate of well below 1% over the past five years...
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