Stats SA has finally released last year’s fourth quarter (Q4) data and according to the Bureau for Economic Research (BER) it’s not looking good.
“Overall, these numbers point towards a high probability for another quarterly GDP contraction”.
If it’s any consolation, the UK’s Q4 data is also not looking rosy, mainly because of its split from the EU.
Europe’s strongest economy, Germany, also recorded sluggishness in Q4, the BER said.
“The weak performance was driven by ongoing Brexit uncertainty and a slowdown in international trade.”
In the US though the picture is different, with prices pushed higher on the back of strong spending.
The coronavirus outbreak in China and its ripple effect across the globe, with some media outlets referring to it as a “pandemic”, also seems to have been absorbed by markets with stock prices rising and commodity prices also on the increase. – Eugene Goddard
