Business Standard

Riots may lead to 3% contractio­n


The unrest that has ripped through South Africa in the past week will force its economy to contract by 3% in the third quarter and drag down full-year growth,jpmorgan said on Friday The week of looting has destroyed hundreds of businesses and killed more than 100 people. The flare-up prompted Jpmorgan to revise Q3 growth quarter-onquarter projection­s sharply lower from a previous estimate of -0.5 per cent.

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