“It never rains but it pours”

SOUTH AFRICA - Report 02 Jun 2014 by Iraj Abedian
Recent prints of South African economic indicators paint a picture of an ailing domestic economy badly in need of emergency procedures before it is too late. On the whole, downbeat economic activity (particularly in mining and manufacturing) coupled with elevated inflationary pressures have so far crippled South Africa’s prospects for economic recovery in 2014. As shown in Graph 1, for the first time since 2009 Q2, the growth in the total value of goods and services produced in South Africa moved into negative territory. Inflation-adjusted gross domestic product contracted by a quarter-on-q...

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