Is South Africa in a recession? Consider, for example, new car sales...

New vehicle sales shrank by 13.3% (year-on-year) to 34 956 units in April.

What does this say about the state of Africa’s most developed economy?

The Money Show’s Bruce Whitfield interviewed ETM Analytics Economist George Glynos.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

I don’t think we’re quite there [recession] yet.

George Glynos, ETM Analytics

Car sales are a leading indicator [of economic activity].

George Glynos, ETM Analytics

This speaks to a very, very weak economy.

George Glynos, ETM Analytics

This is what happens when sentiment hits a low.

George Glynos, ETM Analytics

We were looking for an improvement, then we had the cabinet reshuffle…

George Glynos, ETM Analytics

My ‘radical’ [economic transformation] will look like the polar opposite of what we’ve had so far.

George Glynos, ETM Analytics

We need to get rid of parastatals that are chewing up the budget.

George Glynos, ETM Analytics

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Article brought to us by Old Mutual.


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