Recession Definition South Africa

There are other ways to describe a recession although the technical definition is one that s generally accepted.

Recession definition south africa. South africa avoided a return to recession during the second quarter as africa s most industrialised economy rebounded from a contraction at the start of the year. The last quarter of 2016 showed a 0 3 decline. South african gross domestic. As a direct result of the late 2000s recession some economies in africa have been primarily affected by reduced global demand and lower prices of commodities such as oil platinum nickel gold and copper.

South africa was the first african country to fall in recession. South africa has fallen into recession for the first time in eight years after the economy shrank by 0 7 between january and march. South africa looking at the. South africa s economy fell into a recession for the first time since 2009 after it contracted for a second straight quarter in the first three months of the year as all bar two industries shrank.

Other definitions include an economy performing below potential or an. South africa is headed for a recession this year according to a statement from the south african institute of race relations irr. With the latest decline of 0 7 south africa. In economic terms a technical recession is described as two consecutive quarters of economic decline.

There are other ways to describe a recession although the technical definition is one tha s generally accepted. Other definitions include an economy performing below potential or an. This projection is based on gdp data released by statistics. Here s what a global recession could mean for south africa.

There are other ways to describe a recession although the technical definition is one that s generally accepted.