South Africa’s fears realized – the economy is in a recession

SOUTH AFRICA - Report 04 Sep 2018 by Iraj Abedian

South Africa waited in anticipation to find out if the economy had somehow managed to grow positively or had contracted during the second quarter of 2018. This is because GDP growth recorded negative 2.6% q/q (saar) in the first quarter of the year, and another contraction would place the South African economy in a recession. This is because two consecutive quarters of negative growth places the economy in a technical recession. Disappointingly, GDP contracted by 0.7% q/q in Q2 2018.

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