South Africa's Ramaphosa May Have Dodged His First Recession

(Bloomberg) -- South African President Cyril Ramaphosa may avoid having to deal with a recession during his first six months in office, unlike his predecessor. Annualized gross domestic product data, due to be released by the statistics agency on Tuesday, will probably show Africa’s most-industrialized economy expanded in the three months through June, according to the median estimate in a Bloomberg survey. That would come even as business confidence and the rand have erased all the gains that materialized on the back of optimism following Ramaphosa’s replacement of Jacob Zuma as president in February.

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