Data released by StatsSA last week indicate that the total value of all the goods and services produced in South Africa (i.e. the Gross Domestic Product or GDP) fell in the first quarter of 2019.
Economists say the weakness in the rand shows that the currency is starting to factor in the possibilities of a credit downgrade.
President Cyril Ramaphosa says he hopes the Northern Cape will increase its contribution to the Gross Domestic Product (GDP).
Treasury says the country’s Gross Domestic Product (GDP) growth for 2019 is forecast to grow at 1.5% from an estimated 1.7%.
Analysts expect the third quarter Gross domestic product (GDP) numbers will show that South Africa has come out of its technical recession.