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.
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.