South Africa’s economy shrank by 0.7% during the first quarter of 2017.
The economy contracted by 0.3% in the last quarter of 2016.
In other words, Africa’s most industrialised economy is in a technical recession.
The Money Show’s Bruce Whitfield interviewed Investec Asset Management Economist Nazmeera Moola and The Efficient Group Chief Economist Dawie Roodt.
Listen to the interviews in the audio below (and/or scroll down for quotes from it).
We thought we escaped a technical recession.— Nazmeera Moola, Investec Asset Management
Tax revenues may contract in real terms.— Nazmeera Moola, Investec Asset Management
Part of this is because of political uncertainty.— Nazmeera Moola, Investec Asset Management
No wonder the consumer is in a really crappy place at the moment!— Nazmeera Moola, Investec Asset Management
The volume of food people bought is down. People are eating less!— Nazmeera Moola, Investec Asset Management
We’ve seen an increase in unemployment and poverty in South Africa.— Dawie Roodt, The Efficient Group
It’s worse than I expected.— Dawie Roodt, The Efficient Group
It’s not just a number. It’s important for the man in the street.— Dawie Roodt, The Efficient Group
There’s a good possibility that Moody’s will downgrade us by two notches.— Dawie Roodt, The Efficient Group
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