SA's economy contracts 3.2% in the first quarter

SA’s economy contracted 3.2% in the first quarter of 2019, marking the biggest quarterly decline in a decade. This as all industries except government, finance and personal services contracted during the period.

The Reserve Bank recently cut its growth forecast for this year to 1% from 1.3% while Treasury expects growth of 1.2%, down from 1.5% and similarly, the IMF has also revised it's forecast down to 1.2.

With the first quarter starting off on a negative note, Business Day TV spoke to Chief Economist at Citadel Maarten Ackerman about what kind of growth, if any, South Africa is likely to see this year.
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