'It might not feel like it but the stats say it’s true. We’re out of recession!'

Award-winning advertising campaign (2009) for The Economist by Memac Ogilvy (Dubai, UAE).

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%.

The Money Show’s Bruce Whitfield interviewed Dr Adrian Saville, CEO of Cannon Asset Managers and Professor at Gordon Institute of Business Science (Gibs).

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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This article first appeared on 702 : 'It might not feel like it but the stats say it’s true. We’re out of recession!'


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