zerohedge.com / by Tyler Durden / Jun 6, 2017 3:25 PM
Despite expectations (among 19 ‘economists’) that growth would be up 1.0% in Q1, South African GDP tumbled 0.7% (the second drop in a row) pushing the nation back into recession after eight years.
The median of 19 economists’ estimates in a Bloomberg survey was for 1 percent expansion. There was only one forecast for a contraction. This was a four standard deviation miss…
Indicating contraction for the second quarter in a row – technically signaling a recession – as all bar two industries shrank.