The weakness in South Africa’s economy is coming from all sectors and increasingly becoming more broad-based, says Nedbank economist Nicky Weimar. Speaking at the eighth Integrated Housing Solutions Affordable Housing Summit, in Johannesburg, on Thursday, she pointed out that the 3.3% quarter-on-quarter growth in gross domestic product in the second quarter looked good on paper, but that GDP had grown by only 0.6% on a year-on-year basis, which was very weak.
Source: www.engineeringnews.co.za
Weakness in economy becoming more broad-based
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