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ECONOMIC WEEK AHEAD: Economists fear 49% contraction in second quarter

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Year on year, GDP is expected to fall 16.5% in the three months to end-June, according to a Bloomberg survey

The extent to which Covid-19 shutdowns pummelled SA’s already ailing economy is in focus in the week ahead, with second-quarter GDP figures expected to show that the economy as much as halved when compared with the first three months of the year.

The Bloomberg consensus is for a GDP contraction of 49% quarter on quarter, but analysts say early signs are that there was a recovery in the third. Year on year, GDP is expected to fall 16.5% in the three months to end-June, according to the 11 economists surveyed by Friday.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

 

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