South Africa Likely Dodged Recession as Lights Stayed On
South Africa may have dodged a second recession in consecutive years, but the outlook for the economy remains bleak.
(Bloomberg) --
South Africa may have dodged a second recession in consecutive years, but the outlook for the economy remains bleak. 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’s after power supply was stable following blackouts in the first quarter that helped to cause to the biggest GDP contraction in a decade.
--With assistance from Simbarashe Gumbo.
To contact the reporter on this story: Prinesha Naidoo in Johannesburg at pnaidoo7@bloomberg.net
To contact the editors responsible for this story: Rene Vollgraaff at rvollgraaff@bloomberg.net, Gordon Bell
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