As was expected, South Africa experienced another quarter-on-quarter contraction (the third in a row) during the first quarter of 2020. Overall quarter-on-quarter seasonally adjusted annualised (q/q saar) growth amounted to -2%, while year-on-year GDP growth amounted to -0.1%. Very little of the lockdown impact was reflected in figures as the full effect of the lockdown will only be visible in the second quarter numbers. Expectations are that q/q annualised growth in the April-June quarter may be as low as -30% or -40%.
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