SA economy enters recession

Statistics SA, that country’s data agency, released figures this morning showing South Africa’s economy shrank by 1.4 percent in the fourth quarter of 2019 after a 0.8 percent reduction in the third quarter. By Stats SA definitions, a recession is said to have taken place when the economy experiences negative growth over two successive quarters.

For the full year 2019, the South African economy grew only by 0.2 percent in real terms, compared to 0.8 percent growth for 2018.