Business Maverick: Rand extends losses as sharper-than-expected Q4 GDP contraction signals start of deep recession

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 84%

Indonesia Berita Berita

Indonesia Berita Terbaru,Indonesia Berita utama

The rand extended its mounting losses against the dollar on Tuesday as data showed South Africa’s economy shrank 1.3% on a quarterly basis in the fourth quarter of 2022, much bigger than expectations of a 0.4% contraction. The surge in rolling blackouts...

The gross domestic product read for Q4 2022 was simply a shocker, based on the expectations of economists who seem to have underestimated the impact that the surging levels of power cuts have been having on economic activity.

This followed Q3 growth of 1.8% – revised up from the initial 1.6% estimate – for a 2.0% rise in South African GDP for all of 2022, also much lower than expectations of about 2.5%. So, all the key economic sectors contracted, and for the record, there was no “growth” to drag lower.

Berita ini telah kami rangkum agar Anda dapat membacanya dengan cepat. Jika Anda tertarik dengan beritanya, Anda dapat membaca teks lengkapnya di sini. Baca lebih lajut:

 /  🏆 3. in İD
 

Terima kasih atas komentar Anda. Komentar Anda akan dipublikasikan setelah ditinjau.

Eskom !!!!

Indonesia Berita Terbaru, Indonesia Berita utama