Lukanyo Mnyanda Editor: Business Day

The debate generated by the release of the latest GDP numbers, or rather the methodology used, was more than a little surprising. As it has always done, Stats SA gave out seasonally adjusted and annualised data, which showed a drop of 51%.

While it would be irrational to use this number and extrapolate for the rest of year — not least because it covered the period when the lockdown was at its most severe and large parts of the economy have since reopened — it generated a considerable amount of noise. So much so it threatened to drown out some of the more interesting observations and the search for solutions to what is potentially an existential threat to the country’s political and social order.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now