A long hoped for recovery in manufacturing has helped South Africa emerge from recession. Statistics SA yesterday reported growth of 0.9 percent in the third quarter, after adjustment for inflation.Stats SA deputy director-general of economic statistics Rashad Cassim said the figure represented a turning point in the economy, after three consecutive quarters of contraction. But he warned it should be treated with caution.
"It is a seasonally adjusted quarterly change of 0.2 percent, which has been annualised (multiplied by four), which exaggerated the trend," he said.
When gross domestic product (GDP) is measured against the same quarter of last year, the economy contracted by 2.1 percent...
- Business Report
2 comments:
The economy has worsened some more. The new numbers include cannabis? No?
My concern is, lets say they do, then an annual crop is factored in, on a quarterly basis then that figure is multiplied by four to get an annual figure?!?!?!
and of course the 6 people who have single handedly rescued South Africa from recession are sitting in prison for their HARD WORK...
iets is nie pluis nie
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