SA’s economy is shrinking at an alarming rate – and only oranges and interest rates are offering hope.
Business Insider SA
SA’s economy shrank by an appalling 3.2% in the first quarter of this year compared to the last quarter – the worst performance in a decade.
Weak levels of investment and more than 270 hours of loadshedding wreaked havoc across the economy, while a gold mining strike and a weak grape harvest added to the pain.
The latest numbers from the Statistics SA show that the economy was exactly the same size in the first quarter of 2019 than it had been in the same quarter of 2018.