NONKULULEKO NJILO SA’s GDP is expected to decline by at least 7.9% this year as a result of Covid-19, according to research conducted by the UN Development Programme. The organisation released “The socio-economic impact assessment of…
CLAIRE BISSEKER Economic growth and current account data for the first quarter will be the main focus this week. Though too backward-looking to reveal the effect of the pandemic, the data is likely to show that the recession was…
KARL GERNETZKY Banking group Nedbank said on Friday it expects SA’s economy to contract 7% in 2020, with the group saying it expects profits to fall more than a fifth in its first half as it moves to help clients manage cash flow during…
SA’s economy managed to eke out paltry growth in 2019, despite a steep contraction in the fourth quarter, which led to a recession being declared for the last half of 2019. Data released by Stats SA on Tuesday shows that for the full…
By ODWA MJO The state of the economy will be at the forefront this week, with some economists forecasting that SA may have slid into another recession. Stats SA is expected to release the GDP print for the fourth quarter of 2019 on…
By KARL GERNETZKY Walmart-owned retailer Massmart, whose brands include Makro and Game, warned on Thursday it had swung into a loss in its year to end-December, as SA’s consumers cut back on higher-margin durable goods such as kitchenware…
GDP rose 2.2% in the third quarter, data from Statistics SA showed on Tuesday. This was better than expectations. A Bloomberg consensus was 1.9%, with all economists polled expecting SA to see growth. Growth was driven by the…
Whether it’s eating out less‚ homemade pet food‚ cancelling gym memberships or avoiding parking tickets‚ South Africans are cutting costs to survive the economic recession. In a Facebook post where friends were sharing their budget…
This may not seem like a wise time to buy a brand-new car‚ but if you’re toying with the idea‚ the numbers suggest that the timing couldn’t be more perfect. Buying new rather than used is the more financially savvy choice right now as car…
SA’s leading supermarket group aims up as recession hits lower-end consumers first As South Africa slides into recession, and households have less and less to spend, number-one supermarket group Shoprite is adopting an unlikely strategy –…
