According to the latest GDP data from Stats SA, South Africa’s economy has rebounded from a technical recession, growing by 2.5 percent in the second quarter of 2017. This, following two successive quarters of decline.
To the relief of many, this brings an end to the second recession the country has seen in less than a decade. Economists have, however, warned that despite the positive movement, growth will continue to be slow, as well as volatile and unpredictable.
In July, the Reserve Bank halved its GDP growth forecast for the year to 0.5 percent, with most economists pegging GDP growth for 2017 somewhere between 0.2 percent and 1 percent at best.
Pictured: Statistician-General, Pali Lehohla
