South Africa's 2017 Recession Under Zuma Didn't Happen: Chart
(Bloomberg) -- It turns out that South Africa's economy didn't experience a recession in 2017, Jacob Zuma's last full year as the nation's president. Revisions to the statistics agency's gross domestic product data Tuesday show the continent's most-industrialized economy expanded 0.4 percent in the fourth quarter of 2016 and that it didn't contract 0.3 percent as reported in December. Gross domestic product climbed an annualized 3.1 percent in the final three months of 2017, more than the 1.8 percent median of 14 economists' estimates in a Bloomberg survey.
To contact the reporter on this story: Rene Vollgraaff in Johannesburg at rvollgraaff@bloomberg.net.
To contact the editors responsible for this story: Craig Stirling at cstirling1@bloomberg.net, Ana Monteiro, Robert Brand
©2018 Bloomberg L.P.
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