Recession, Electricity Hikes & Credit Cleansing

Fears of a full-scale recession, electricity hikes and debt forgiveness plans are some of the hot business news stories on Fin24. Gross domestic product contracted 0.7% for the first quarter of 2017, indicating that the country has entered into a technical recession, according to deputy director general of Economic Statistics at Statistics South Africa (Stats […]

Consumers in for bumpy ride – recession

South Africa’s economy contracted by 0,7% during the first quarter of the year, Stats SA revealed on Tuesday. It represents the second conservative contraction quarter-on-quarter and places the South African economy in a technical recession. It follows a GDP decline of 0,3% in the fourth quarter of 2016 and overall economic growth of just 0,3% […]

Bleak economic indicators to hit consumers hard

Cape Town – Consumers are fighting a losing battle against the rising cost of living amid a barrage of bleak economic indicators. South Africa is in a technical recession, its unemployment rate is on a 14-year high, it has suffered junk status gradings by two ratings agencies and on top of that, it faces potential […]

Debt warning: Don’t be fooled by petrol price relief

Cape Town – While motorists can expect a further drop of 60 cents in the petrol price next month, the country is still in a technical recession and the price could increase in months ahead, warned a debt expert. The Automobile Association (AA) expects a petrol price decline of between 60c and 64c a litre in […]