First, the bad news: South Africa’s economy probably contracted in the first quarter of 2019. The good news is that President Cyril Ramaphosa’s incoming administration will probably not have a recession on its hands when it starts work as there are signs that the economy this quarter is growing.
That also contributed to the weak manufacturing numbers for March, which showed production increased by 0.8% month on month in March versus a revised decline of 2.0% month on month in February . The retail sector also got hammered, as many smaller retail outlets had to close their doors periodically in the face of the power cuts. On a seasonally adjusted annualised basis, real retail sales fell 2.9% in Q1 after rising .4% in Q4.
Using the expanded unemployment rate, which includes discouraged workers and economically inactive citizens, the national unemployment figure jumps to 38%. That is more than a quarter of people, mostly young people, that are desperate for work and an income to restore their dignity. The bottom line is that Q1 was pretty bleak – the GDP numbers will be released in early June 2019 and we will have a better picture of the situation then. Q2 certainly does not have a hard act to follow and the signs so far are tentatively promising, at least off the dismal Q1 performance.that she believes a recession has been avoided, a view that has been echoed by other economists.We have not seen any load-shedding so far in the second quarter and the prolonged gold mining strike ended.
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BUSINESS MAVERICK: South Africa wins a fragile post-election window of economic opportunitySA has come out of the 8 May 2019 elections on a solid footing and has even managed to withstand the financial market sell-off on the flare-up in trade tensions between the US and China late last week. Now all eyes are on whether President Cyril Ramaphosa has the mandate to push ahead with necessary policy reform, taking advantage of this invaluable window of opportunity against a still-nervy global economic backdrop.
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BUSINESS MAVERICK: Goldman Sachs’ big, big bet on South AfricaAs if Goldman Sachs’ very public pre-election support for the ANC was not enough, the firm hosted an investment conference on Wednesday that was headlined by President Cyril Ramaphosa and attended by public enterprises minister Pravin Gordhan, investors and SA industry. While the close relationship between government and the investment bank may be music to the ears of business, the timing of the conference looks designed to curry favour — and eyebrows are being raised. They will see their arses in SA
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BUSINESS MAVERICK: Nampo agricultural show highlights the scale and sophistication of South African farmingFarming in SA is undergoing a revolution, and not the kind envisioned by the Economic Freedom Fighters and its copycats in the ruling party. Techniques such as precision farming, which uses GPS technology to boost productivity and yields, are widening the already yawning gap between commercial agriculture and the subsistence plots still being tilled in the former homelands and other impoverished rural areas. A trip to industry group Grain SA’s annual Nampo agricultural show reveals the sheer scale of what is unfolding in the fields. Remember that.Small-scale farming wont feed SA.
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South Africa's unemployment rate rises to 27.6% in first quarter | IOL Business ReportStatistics South Africa today said that the number of employed persons decreased by 237 000 to 16,3 million in the first three months of this year. busrep We all know what the cure for unemployment is. Let’s be bold and implement it. busrep Thank u myanc busrep Thats what most people voted for
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Minister defends DTT delays - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Communications Minister Stella Ndabeni-Abrahams says the Free State will be the first province to switch to digital television this year and is optimistic that the SABC will be ready for the migration. It's a permanent delay. More explains then defends but continue. how do we get involved!!!
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