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South Africa's National Treasury criticized the statement by Moody's saying, "It's not possible that we'll end up in recession." He added that the government may revise lower its 4 percent growth forecast for the year following growth of 5.1% in 2007. Car sales in South Africa dropped an annual 22 percent in June due to higher interest rates. [2]
South Africa entered recession as the global crisis pounded demand for its main exports; GDP shrank 6.4% in the first quarter of 2009 after falling 1.8% in the last quarter of 2008. This is the first recession for South Africa in 17 years. According to forecasts, the South African domestic product is likely to shrink between 1% and 1.5% in 2009 ...
In April 2020, Sub-Saharan Africa appeared poised to enter its first recession in 25 years, but this time for a longer duration. [63] The World Bank predicted that overall sub-Saharan Africa's economy would shrink by 2.1%–5.1% during 2020. [64]
The South African rand plunged more than 2% following the report. Gross domestic product in Africa's most developed economy fell by 0.7% from April to June, the national statistics agency said in ...
South Africa's recession deepened in the first quarter of 2020, with official data on Tuesday showing that gross domestic product contracted 2% from the previous three months, led by declines in ...
The recession data for the overall G20 zone (representing 85% of all GWP), depict that the Great Recession existed as a global recession throughout Q3 2008 until Q1 2009. Subsequent follow-up recessions in 2010–2013 were confined to Belize, El Salvador, Paraguay, Jamaica, Japan, Taiwan, New Zealand and 24 out of 50 European countries ...
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There are several types of timeline articles. Historical timelines show the significant historical events and developments for a specific topic, over the course of centuries or millennia. Graphical timelines provide a visual representation for the timespan of multiple events that have a particular duration, over the course of centuries or ...