South Africa's economy in recession

South African bank wants farmers to repay debt for property even if it's seized

Citadel Chief Economist Maarten Ackerman said that although the technical recession of two consecutive quarters of contraction heightened South Africa's risk of suffering yet another credit downgrade in the second half of the year, he expected an upside surprise in the second half. I would expect that we get a positive print in the third quarter.

"It's the only way we can solve this problem and make sure that decisions we make in meetings are implemented", said Godongwana.

The electricity, gas and water industry increased by 2.1 percent, largely due to an increase in electricity consumed in the second quarter.

"The trade, catering and accommodation industry decreased by 1.9% and contributed -0,3 of a percentage point to GDP growth".

"The transport and communication industry decreased by 4.9% and contributed -0.4 of a percentage point".

Pole-dancing at Chinese nursery shocks parents
Michael Standaert, an American writer whose children attend the school, narrated the story on Twitter. The school is also facing an investigation from the Bao'an District Education Bureau.


However, that was not enough to lift overall economic growth out of negative territory, the agency said.

According to the South African Statistical Office, the GDP of the continent's most developed industrial economy shrank by 0.7% in the second quarter of 2018 after falling by 2.6% (adjusted data) in the first quarter. This latter factor is the likely result of the government trying to reign in the budget deficit. "We've had the emerging markets crises like in Argentina", he said of the country, whose Peso collapsed and has announced austerity measures.

"Investors have become more selective, and countries with negative news such as weak economic growth, weak external balances and high inflation face stronger sell-offs", Fukaya told Bloomberg.

"No party would be happy going into an election in a recessionary mode, not at all", said Godongwana.

"These GDP numbers confirm that Ramaphoria period was pretty temporary. It was exclusively based on expectation that the political changes would down the line result in better outcomes", said Pienaar.

North Korea's Kim says wants to denuclearise in Trump's first term - Seoul
US officials have previously said they have already made concessions, such as halting joint military exercises with South Korea. Kim and Trump held a landmark summit in Singapore in June, in which they agreed to work toward complete denuclearization.


When he took over from Jacob Zuma in February, President Cyril Ramaphosa promised to restore business confidence, unleash investment and kick-start sluggish growth.

Hope of a turnaround with former businessman Ramaphosa at the helm have dissipated over the last few months.

At the time of this article's update the Pound-Rand exchange is up 2.26% at 19.54 and the prospects of an extension of the rally towards the R20.00 barrier have increased substantially.

"When the Monetary Policy Committee meets later this month, it will need to leave interest rates unchanged again in view of the weak economy", he noted.

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She won 59 points to just 28 for the unseeded Ukrainian, who knocked off No. 2 seed Caroline Wozniacki in the second round. The 20-year-old Osaka said she was nervous, claiming to be "freaking out inside" - though it certainly never showed.


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