It might not feel like it, but you’ve got to trust me on this because the statistics say it’s true. We’re out of recession! Who knew?— Bruce Whitfield, The Money Show
The recession is, technically, over.
South Africa’s third-quarter GDP grew by 2.2% quarter on quarter.
Agriculture (up 6.5%) and manufacturing (up 7.5%) did particularly well.
Mining, however, is down 8.8%.
Listen to the interview in the audio below (and scroll down for quotes from it).
The numbers were better than expected. We shouldn’t have felt as bad as we did…This is the three levels of lies, damned lies and statistics… it’s not uncommon… to adjust numbers…— Dr Adrian Saville, Cannon Asset Managers
The 2.2% was well ahead of consensus…— Dr Adrian Saville, Cannon Asset Managers
There’s a silver lining…— Dr Adrian Saville, Cannon Asset Managers
Domestic vehicle sales are in the doldrums…— Dr Adrian Saville, Cannon Asset Managers
The backbone of the economy is heavily reliant on electricity… it thins the silver lining…— Dr Adrian Saville, Cannon Asset Managers
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