South Africa’s Economy Probably Stagnated Last Quarter

(Bloomberg) --

The rebound in South Africa’s economy in the second quarter proved fleeting as growth disappeared. Annualized gross domestic product data, due to be released by the statistics agency on Tuesday, will probably show zero growth for the three months through September, according to the median estimate in a Bloomberg survey. Africa’s most-advanced economy can’t seem to escape stagnation with failing state companies and ballooning debt sapping confidence, and pointing to little or no expansion for another year.

--With assistance from Simbarashe Gumbo.

To contact the reporter on this story: Gordon Bell in Johannesburg at gbell16@bloomberg.net

To contact the editors responsible for this story: Rene Vollgraaff at rvollgraaff@bloomberg.net, Zoe Schneeweiss

©2019 Bloomberg L.P.