EDITORIAL: GDP rebound only serves to reinforce need for economic reforms
At last, there’s some positive news to report on SA’s economy after a miserable first half that brought with it a loss of millions of jobs. Unfortunately, the strong recovery posted in the third quarter only tells part of the story, and it’s up to decisions made from now on to determine if it’s a start of a trend.
First, the good news. Third-quarter GDP recorded a rebound of 66.1% on a seasonally adjusted and annualised basis. Of course, the format can produce anomalies during extraordinary times as we are going through now. That was true of the reported 51.7% drop in the second quarter, sparking some debate in academic cycles about the usefulness of the data. ..
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