Africa Economics

South Africa GDP (Q2)

Africa Data Response
Written by Capital Economics Economist

South Africa’s economy formally entered recession in Q2 driven by another poor performance from the agricultural sector. We expect the economy to embark on a recovery over the rest of this year, but a sharp rebound is unlikely. Today’s data will further dent hopes that Cyril Ramaphosa’s presidency would lead to a marked turnaround in South Africa’s economic fortunes.