Country Economic Forecasts - South Africa
A second consecutive quarterly contraction confirmed that the economy slipped into recession in H1 2018.
The economy’s dismal performance was quite broad-based, and triggered a further downward revision to our growth forecasts. We have revised our GDP growth forecast for 2018 downwards to only 0.7% (from 1.1%) and slightly higher to 2.1% (from 1.9%) for 2019 given the lower base. This compares to a 1.3% expansion in 2017.