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Q2 GDP figures to bring relief to economy?

While the country remains in the midst of an economic crisis, the much-awaited GDP figures will be an indicator of the level of economic activity.

Statistics generic. Picture: Freeimages.

JOHANNESBURG - Statistics SA is set to release the country’s gross domestic product (GDP) figures for the second quarter on Tuesday morning.

There was a recorded decline of 3.2% in the first quarter of 2019.

GDP is the final market value of all goods and services produced in the country.

While the country remains in the midst of an economic crisis, the much-awaited GDP figures will be an indicator of the level of economic activity.

A Reuters poll of economists has forecast that GDP expanded by 2.4% in the second quarter.

If accurate, the positive growth will be a welcome relief as it may improve the rand’s performance against major currencies.

According to Reuters, the improvement will be due to a stable electricity supply and statistical base effects and not economic activity.

The 3.2% contraction in the first quarter of the year was the biggest fall in economic activity in a decade.

Should the predictions by economists not come to fruition and the economy shrinks even further the country will enter a recession.