The horror, the horror: SA’s record GDP plunge
The second-quarter contraction is SA’s biggest on record, and will hit the country’s faltering confidence
10 September 2020 - 05:00
SA imposed one of the harshest Covid-19 lockdowns worldwide and is now reaping the costs with a dramatic contraction in second-quarter real GDP growth, which will further dent sentiment and SA’s recovery prospects.
According to Stats SA, the economy slowed quarter on quarter by a worse-than-expected 51% at a seasonally adjusted annual rate (Saar), marking SA’s fourth consecutive quarter of economic contraction...
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