Fresh data suggests that South Africa's economy had some green shoots as autumn descended in April, but is still in a deep rut, especially when it comes to confidence. It remains to be seen if SA is in a recession after a sharp contraction in the first quarter of 2019. Even if the country has dodged the dreaded 'R' word, the economy is hardly blooming.
On Thursday 13 June, the RMB/BER Business Confidence Index (BCI) for Q2 cast a new shade of gloom over hopes that the economy was rebounding after shrinking by 3.2% in Q1.
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