Economy contracted 7% in 2020 – Business Day

0
19

SA’s fourth-quarter economic growth rate, which showed the economy grew at a seasonally adjusted and annualised 6.3%, wasn’t enough to offset the expected slump in full-year GDP, which contracted by 7% in 2020, Statis SA said on Tuesday.

The economy’s growth rate in the final three months of 2020 was better than the anticipated 5.6% adjusted quarter-on-quarter expansion predicted by the median estimate of 15 economists surveyed by Bloomberg prior to the release…

LEAVE A REPLY

Please enter your comment!
Please enter your name here