Has SA fallen into a recession?
Stats SA will today reveal whether the country’s economy fell into a recession in the 2nd quarter.
JOHANNESBURG - Statistics South Africa (Stats SA) will this morning reveal figures which will show whether the economy fell into a recession in the second quarter of this year.
The economy contracted by 0.6 percent in the first quarter, a recession is technically defined as two consecutive quarters of negative growth.
But economists appear confident that the economy did grow in the second quarter.
Nedbank economist Isaac Matshego says, "We're looking at a marginal increase in production and a marginal increase in the mining sector because towards the end of the quarter we saw the platinum miners returning to work and other areas of the mining sector were picking up."