GDP data will show whether SA in recession
Much awaited gross domestic product (GDP) data for the third quarter is due for release this week and the focus will be on whether the economy slipped into recession‚ according to Investec economist Annabel Bishop. “The consensus is that recession will be avoided‚ with the metric at 1.0% qqsaa (quarter on quarter‚ seasonally adjusted annualised)‚ but the risk is that the figure disappoints‚ particularly on the services side‚” she says.Business confidence‚ also due out this week‚ is depressed and likely to remain so‚ Bishop adds.“Inflation expectations are elevated on these exogenous effects and will not dissipate materially with higher interest rates unless economic growth stalls or worse‚” she states.The GDP data is due for release on Tuesday‚ followed by the release of the BER Business Confidence Index for the fourth quarter on Wednesday and producer price inflation (PPI) data for October on Thursday...
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