South Africa Q1 GDP fall warns of tough year

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By Mike Turner
10 Jun 2019

South Africa’s GDP showed the largest quarterly contraction in a decade, with the sovereign and country’s banks likely to face pressure on their credit metrics as a result.

First quarter GDP in the country contracted by 3.2% on a seasonally adjusted and annualised basis from the final quarter of 2018.

The contraction “presages low growth in the year as a whole,” said Moody’s in a research note. The ratings agency has lowered its forecast of real GDP ...

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