South Africa avoided slipping into a technical recession for the second time in a year according to the gross domestic product (GDP) numbers for the second quarter of 2019 released by Stats SA yesterday, thanks mainly to no load shedding by Eskom.
The economy managed to claw back 3.1% of the 3.2% it had lost in the first quarter of this year in what economists have called a “bounce back”.
This leaves South Africa back where it started the year, but six months behind.
“This is not a recovery, this is a bounce back from a very, very bad first quarter,” said Economists.co.za founder Mike Schussler.
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