Listen: An expert's take on the recession
South Africa has been hit by recession again, but what does this mean for us? Take a listen to our interview with the Chief Economist from the Efficient Group, Dawie Roodt.
Take a listen to our interview with Dawie Roodt or read the details under the podcast.
South Africa has officially entered a technical recession. Stats SA announced that the country's real gross domestic product had decreased by 0.7% in the second quarter of the year.
According to Fin24, a technical recession is two consecutive quarters of negative growth.
Read: Mags speaks to Statistician-General Riseka Maluleka about the recession
This recession indicates job losses, the erosion of our Rand (savings), and difficult to make ends meet. In 2018 alone, VAT increased, the petrol price has increased, and now the technical recession.
Keep an eye out for more financial updates from the ECR Newswatch team.