There was an immense sigh of relief when the GDP numbers came out this week, showing 2% growth quarter-on-quarter. True, it wasn’t a sign that all our prayers had suddenly been answered. But amid mounting pessimism over the looming ANC elective conference, and the gathering sense of doom over SA’s financial status, the GDP numbers show that, at least, the economy isn’t an entirely spent force just yet. This fillip means the odds of SA hitting 1% GDP growth for the full year are now pretty good — provided the fourth quarter is not a washout. The risk, however, is that growth could weaken in the final quarter due to a toxic brew of last month’s ratings downgrade, SA’s fiscal deterioration and uncertainty over the ANC’s elective conference.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.