Stats SA to announce latest GDP

Stats SA to announce latest GDP

Stats SA will on Tuesday announce the latest Gross Domestic Product (GDP) figures with economists upbeat that economic growth will show some improvement.

Money
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This would be greatly needed, as ratings agency Standard & Poor's yesterday said it was looking for "signs that the economy is turning".


The developments surrounding Finance Minister Pravin Gordhan and governance at state-owned enterprises have put pressure on markets and the currency for the past two weeks.  


Efficient group economist, Francois Stoffberg is cautiously optimistic.


"It seems as if the consensus is quite high for an average GDP of around 2.3 percent expected from analysts and economists in South Africa. We are a bit more negative than that, expecting GDP to only reach about 1.4 percent. There are some analysts who still believe we might see a recession, having another negative quarter now, but we did see very strong quarter-on-quarter recovery in the mining sector and some in manufacturing as well, which might bode well in this specific instance of how we measure," he said.

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