End of recession will only be felt next year
By Nomava Nobumba
24 November 2009
Economists say ordinary South Africans will only begin to feel the effects of the end of the recession next year.
This follows news that the economy is officially out of its first recession in 17 years.
Data released by Statistics South Africa shows that the gross domestic product grew by point-nine-percent in the third quarter of this year on an annualised basis.
This compares to a revised decline of two-point-eight-percent in the second quarter.
But the rise in unemployment has not yet been reversed, leading to many families facing a bleak festive season.
24 November 2009
Economists say ordinary South Africans will only begin to feel the effects of the end of the recession next year.
This follows news that the economy is officially out of its first recession in 17 years.
Data released by Statistics South Africa shows that the gross domestic product grew by point-nine-percent in the third quarter of this year on an annualised basis.
This compares to a revised decline of two-point-eight-percent in the second quarter.
But the rise in unemployment has not yet been reversed, leading to many families facing a bleak festive season.
Comments