South Africa Stuck in Longest Business-Cycle Slump Since 1945

The economy entered the 67th month of a weakening cycle in June, according to the Reserve Bank’s Quarterly Bulletin released Thursday in the capital, Pretoria. That’s after gross domestic product contracted the most in a decade in the three months through March. Africa’s most-industrialized economy went through a recession in 2018 and it shrank again in the first quarter of this year as the nation suffered the worst power outages since 2008. The Reserve Bank forecasts the economy, which hasn’t expanded at more than 2% since 2013, will only achieve 1% growth this year. The central bank monitors about 200 indicators representing economic processes such as production, sales, employment and prices to determine the direction of the trend.SOURCE: BLOOMBERG

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