Even before the biggest blow of the coronavirus crisis landed – and despite a rush to stockpile goods ahead of the national lockdown – SA’s gross domestic product (GDP) shrank by 2.0% in the first quarter of 2020. This was the third consecutive quarter of economic contraction, but actually a[…]
Economists have expressed surprise at the degree to which the economy contracted in the first quarter of 2018. Growth domestic product (GDP) shrank by 2,2 percent to end March – marking the economy’s worst performance in nine years. It is the largest quarterly fall since the second quarter of 2009.[…]
Moody’s Investor Services has downgraded power utility Eskom’s credit ratings, this just a day after announcing a downgrade of South Africa’s five major banks. In a statement on Wednesday morning, Eskom announced that Moody’s had downgraded the corporate family rating (CFR) of Eskom Holdings SOC Limited (Eskom) to Ba2 from[…]
Economists expect a negative GDP reading for the first quarter of 2016, while ratings agency Fitch should follow Moody’s and Standard Poor’s and not downgrade SA to junk status. Many economists expect a negative gross domestic product (GDP) reading when Statistics SA announces the figures for the first quarter of[…]
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