The first quarter GDP numbers recorded negative 3.2%. Economists expect GDP to improve slightly in the second quarter. Another negative contraction in GDP would mean the country is in a technical recession.
Nedbank senior Economist Nicky Weimar believes that the GDP numbers will be slightly better than those of the first quarter. She says manufacturing, retail and mining increased during the second quarter. “GDP will grow by 2.8% quarter on quarter and over the quarter most industries fared slightly better than then they did in the first quarter.
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