CAPE TOWN - It turns out that South Africa’s economy did not experience a recession in 2017, during Jacob Zuma’s last full year as the nation’s president.
Revisions to the statistics agency’s gross domestic product data Tuesday show the continent’s most-industrialized economy expanded 0.4 % in the fourth quarter of 2016 and that it didn’t contract 0.3 % as reported in December.
Gross domestic product climbed an annualized 3.1 % in the final three months of 2017, more than the 1.8 % median of 14 economists’ estimates in a Bloomberg survey.
Picture: Recession erased. Bloomberg.