THE UGLY

Finweek English Edition - - IN BRIEF -

SA’s real GDP con­tracted by 1.3% in the sec­ond quar­ter (com­pared with the first quar­ter), sub­stan­tially worse than the 0.5% the mar­ket ex­pected. Look­ing at the GDP num­bers on a year-on-year ba­sis, the econ­omy grew 1.2% in the sec­ond quar­ter, but keep in mind that the 2014 num­bers were hit by strikes in the plat­inum and met­als and en­gi­neer­ing sec­tors. One thing is for sure though: we will get nowhere near that very mea­gre 2% growth es­ti­mate for the full year.

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