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Economic Research

South Africa Economic Outlook, Q3 2009

Executive Summary

  • A shrinking manufacturing and mining sector and falling domestic demand pushed South Africa into its first recession in 17 years;
  • The Reserve Bank’s monetary easing should help stimulate growth;
  • Infrastructure and investment for the 2010 World Cup football (soccer) tournament could partially offset the external slump.

Dismal performance by the manufacturing and mining sector, which accounts for a third of exports, dragged the South African economy to its second consecutive quarter of contraction in Q1 2009. The negative growth of 6.4% in Q1 pushed it into its first[...]

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