South Africa is out of the recession.
GDP grew by 2.5% in the second quarter of the year after shrinking in the last quarter of 2016 and the first quarter of this year.
Agriculture was the main contributor the economy’s return to growth, growing by 33%.
Ray White (in for The Money Show’s Bruce Whitfield) interviewed Consilium Group economist Gideon Pimstone.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
Year-on-year growth rose to 1.1%.— Gideon Pimstone, Consilium Group
These numbers do take into account seasonal variations.— Gideon Pimstone, Consilium Group
The consumer makes up about 60% of total GDP.— Gideon Pimstone, Consilium Group
We expect another rate cut before the end of the year.— Gideon Pimstone, Consilium Group
Agriculture recovered speedily from the drought.— Gideon Pimstone, Consilium Group
Maize production was extremely good.— Gideon Pimstone, Consilium Group
There are so many uncertainties hanging over this economy.— Gideon Pimstone, Consilium Group
Consumer and business sentiment is still pretty low.— Gideon Pimstone, Consilium Group
Manufacturing is still contracting year-on-year.— Gideon Pimstone, Consilium Group
There isn’t much scope for very direct fiscal stimulus… We need serious structural reform…— Gideon Pimstone, Consilium Group
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
Recommendedby NEWSROOM AI
Bruce Whitfield interviews Smart who, at the age of 52, is retiring, and looking forward to a more “purposeful” second life.
The Money Show’s Bruce Whitfield interviews Africa Connected host Lee Kasumba.
So much about our lives has changed in the last 300 years but, as a species, we have not evolved.
The Money Show’s Bruce Whitfield interviews Wessel Badenhorst, a partner at Hogan Lovells.
What is the future of driving? Perhaps it’s actually driving! A Kia! Bruce Whitfield interviews advertising expert Andy Rice.
The Money Show’s Bruce Whitfield interviews David Frost, CEO at Southern Africa Tourism Services Association.
The chilling call Henri van Breda made to emergency services on the night his mother, father and big brother were hacked to death.
Johannesburg father, Chris says he had just come back from work when he walked in on an employee raping his 17 year old daughter.
Marli van Breda's ex took the stand in the trial of triple murder accused Henri van Breda.
Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.
Commission says investigation into food and agro processing companies is important because of high levels of inequality in SA.
The EFF lawyer stole the show during the state capture report court battle.
WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...
Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?