South Africa Economic Indicator (Monthly Report) - August 2019

South Africa’s economy remains in limbo with the probability of a recession appearing to be on the rise. Growth in total real gross fixed capital formation declined by 4.5% (quarter-on-quarter annualised) in the first quarter after a 2.5% drop was recorded in the final quarter of 2018. Fears are growing that populist policy rhetoric (especially relating to land expropriation) and slow implementation of pro-growth policies are taking their toll on investors’ willingness to commit capital for long-term projects.

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