Rate cut expected as agriculture sees economy clawing itself out of recession

South Africa is out of the recession.

GDP grew by 2.5% in the second quarter of the year after shrinking in the last quarter of 2016 and the first quarter of this year.

Agriculture was the main contributor the economy’s return to growth, growing by 33%.

Ray White (in for The Money Show’s Bruce Whitfield) interviewed Consilium Group economist Gideon Pimstone.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

Year-on-year growth rose to 1.1%.

Gideon Pimstone, Consilium Group

These numbers do take into account seasonal variations.

Gideon Pimstone, Consilium Group

The consumer makes up about 60% of total GDP.

Gideon Pimstone, Consilium Group

We expect another rate cut before the end of the year.

Gideon Pimstone, Consilium Group

Agriculture recovered speedily from the drought.

Gideon Pimstone, Consilium Group

Maize production was extremely good.

Gideon Pimstone, Consilium Group

There are so many uncertainties hanging over this economy.

Gideon Pimstone, Consilium Group

Consumer and business sentiment is still pretty low.

Gideon Pimstone, Consilium Group

Manufacturing is still contracting year-on-year.

Gideon Pimstone, Consilium Group

There isn’t much scope for very direct fiscal stimulus… We need serious structural reform…

Gideon Pimstone, Consilium Group

Click here (then “like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : Rate cut expected as agriculture sees economy clawing itself out of recession


Recommended

by NEWSROOM AI
Read More
How to build a business that will survive constant technological change

How to build a business that will survive constant technological change

The Money Show’s Bruce Whitfield interviews Pavlo Phitidis, founder of Aurik Business Accelerator.

How to pay up to 45% less tax (and save the SA economy while you’re at it)

How to pay up to 45% less tax (and save the SA economy while you’re at it)

The Money Show’s Bruce Whitfield interviews Darryn Faulds, a fund manager at Grovest Group.

Will Government hit punch-drunk South Africans with more tax hikes in 2019?

Will Government hit punch-drunk South Africans with more tax hikes in 2019?

Revenue collections are surprisingly good, so far, thanks to the VAT hike. Bruce Whitfield interviews PwC's Kyle Mandy.

9 tough questions you should never be afraid to ask your financial advisor

9 tough questions you should never be afraid to ask your financial advisor

Times are tough. Don’t spare her feelings! You must ask these questions of your advisor, implores Galileo Capital's Warren Ingram.

A compelling argument for using SA's pension funds to build infrastructure

A compelling argument for using SA's pension funds to build infrastructure

Bruce Whitfield interviews John Oliphant, former Principal Executive Officer at the Government Employees Pension Fund.

'Sars eFiling is stable, at the moment'

'Sars eFiling is stable, at the moment'

Testimonies at the Sars Inquiry has many South African taxpayers panicked. Bruce Whitfield interviews Sars' Mark Kingon.

Popular articles
Try out the Riverine Rabbit restaurant in Cape Town for mouth watering food

Try out the Riverine Rabbit restaurant in Cape Town for mouth watering food

Head Chef and Owner at Riverine Rabbit Ash Heeger explains why she rebranded the popularly known Ash restaurant.

News24 exposes how big SA corporates are funding fake news

News24 exposes how big SA corporates are funding fake news

A News24 investigation has exposed how some of South Africa's biggest companies have been advertising on fake news websites.

Zille open to renaming Robben Island swim after 'nation-builder' Theo Yach

Zille open to renaming Robben Island swim after 'nation-builder' Theo Yach

Premier Helen Zille describes Yach as one of the most generous, warm, open-hearted and community-driven people she's ever known.

[Watch] SA choir stuns with isiZulu cover of Ed Sheeran’s ‘Shape of You’

[Watch] SA choir stuns with isiZulu cover of Ed Sheeran’s ‘Shape of You’

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone Viral'.

[WATCH] Man exposes people selling stolen goods on Facebook

[WATCH] Man exposes people selling stolen goods on Facebook

Anton Fourie says he used his phone to record the interaction to create awareness of what is going on in the community.

Pieter du Toit on VBS, Malema's EFF and contradicting ethics

Pieter du Toit on VBS, Malema's EFF and contradicting ethics

Malema has accused the rogue unit of still being operational and Pravin Gordhan of working in the background against the EFF.

Zondi tells court that she had to 'look happy' in church out of fear for Omotoso

Zondi tells court that she had to 'look happy' in church out of fear for Omotoso

Cheryl Zondi is testifying against Pastor Timothy Omotoso who is accused of rape and human trafficking in his Durban church.