Covid-19 extends South Africa’s H2-2019 technical recession into the first quarter of 2020

SOUTH AFRICA - Report 30 Jun 2020 by Iraj Abedian

Real GDP growth declined by 2% in the first quarter of 2020 on a quarter-on-quarter basis. This follows contractions of 0.8% q/q and 1.4% q/q, respectively, during the third and fourth quarters of 2019. Consequently, the technical recession that South Africa entered into during the last half of 2019 extended into the first quarter of 2020. Today’s GDP metrics confirm that the Covid-19 pandemic and its more severe effects found the country in an already very weak economic state, which of course would have intensified the pandemic’s impact.

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