Cecil Kilpin | December 2018 Newsletter

By |2022-01-20T14:25:24+02:00December 7th, 2018|Finance + Economics, Goverment, Newsletter, Tax|

Economy Grows By 2.2% Good news to end 2018 as the South African economy grew by 2,2% quarter-on- in the third quarter of 2018, bringing to an end the country’s second recession since 1994. Higher contributions to growth in a number of industries – most notably in manufacturing, transport as well as finance and business services – were enough to lift economic growth back into positive territory. The rise in economic activity in the third quarter follows two consecutive quarters of negative growth, which is a widely recognised indicator of recession. The economy slumped by 2,6% in the first quarter of 2018 and a further 0,4% in the second quarter.   Key facts from the third quarter 2018 GDP release: Expenditure on GDP increased by [...]