ECONOMIC WEEK AHEAD: Economy braces for more bad news

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South Africa Headlines News

Fears of another quarterly contraction in GDP are doing the rounds among economists

The weak state of the SA economy is likely to be confirmed this week by a slew of important data releases. Most significant will be the third-quarter GDP growth numbers, with some economists fearing that SA is about to suffer another quarterly contraction.

The industrial sector and mining are being affected by the slowdown in global growth and trade. This is being worsened by domestic constraints, including an insufficient electricity supply. “There is always some uncertainty about the overall GDP forecast, particularly from the small but volatile agricultural sector and the many important services sectors for which there are no high frequency data,” explains Absa economist Miyelani Maluleke.

 

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