The recession is over.

Fortunately we have one of the strongest economic policies in the world when it comes to preparation for a recession. This is partially why we are going to experience an upswing and progress into a boom before most other countries. Our banking laws > pretty much every other country.
 
Mila said:
And one swallow does not make it summer.

This is the same guys that fsked up all the other stats too?
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Stats, and all that jazz!

FromFin24:
The figures were in line with consensus expectations. Though the consensus was for positive growth, individual economists differed widely in their forecasts, because of uncertainty over *revisions by Statistics in the way gross domestic product (GDP) is calculated*.
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Earnings from prostitution (personal services) and cannabis (agriculture) are now included in GDP ... just wondering how Stats SA fathoms figures for those industries. Put it in a fishnet and smoke it? But it should give the doddering ole GDP a leg up. Ready, stats, magic ... let the good times roll!

http://www.fin24.com/articles/default/display_article.aspx?ArticleId=2561473
 
fluKe said:
Fortunately we have one of the strongest economic policies in the world when it comes to preparation for a recession. This is partially why we are going to experience an upswing and progress into a boom before most other countries. Our banking laws > pretty much every other country.
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Yup, we pretty much copied the Australian banking laws :o
 
South Africa comes out of a recession and everyone whinges. How uniquely South African. God the boredom living with a nation of hapless pessimists.
 
Therooster said:
South Africa comes out of a recession and everyone whinges. How uniquely South African. God the boredom living with a nation of hapless pessimists.
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SA is now out of recession because the crime is now part of the countries GDP. Nice one. (read the article quoted further up)
 
Lets ignore ESKOM shall we.

They're obviously not important in the greater scheme of things, because nobody participating in the economy actually uses electricity.

Bwaaahahahahaha!
 
Molokai said:
SA is now out of recession because the crime is now part of the countries GDP. Nice one. (read the article quoted further up)
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That's as per international standard; it does make sense, too, given that as much as we don't like it, crime makes a GDP contribution since it's economic activity.
 
Claymore said:
That's as per international standard; it does make sense, too, given that as much as we don't like it, crime makes a GDP contribution since it's economic activity.
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International standards my foot. Its definitely not part of our GDP
 
Mila said:
Oke according to Investec we are 9 mionths behind the USA. How can we be the last to be hit by the global recession but the first to be out of it?
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USA, most of Europe and Hong Kong exited the recession in the 2nd quarter of 2009. Will find you a source a little later, saw it on CNBC. We were quite delayed in going in, and we are quite delayed in coming out.
 
Claymore said:
That's as per international standard; it does make sense, too, given that as much as we don't like it, crime makes a GDP contribution since it's economic activity.
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Not so sure about that:

When the U.S. reports its gross domestic product, the sum of all goods and services the economy produces for a particular period, it doesn't count illegal activities like prostitution and drug dealing since how would you ever get a handle on that?
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Source

From the same source:

Nevertheless, the challenge of trying to estimate what illegal activity adds to the national GDP didn't deter South Africa which for the first time has estimated the contributions of the criminal activity including drug sales and abalone poaching to its overall economic output.

South African economists estimate illegality added $465 million, or less than one percent, to South Africa's 2008 GDP of $305.9 billion.

The problem is, experts believe South African government economists are underestimating how much the black market is raking in.
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:D
 
phiber said:
USA, most of Europe and Hong Kong exited the recession in the 2nd quarter of 2009. Will find you a source a little later, saw it on CNBC. We were quite delayed in going in, and we are quite delayed in coming out.
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thanx!!
I just think 0.9 % growth is nothing to celebrate. As we have seen over the last few months in the USA how many times their economy dropped and stumbled.

IMO It's going to be a while. And We will only see the effect fully after 2010.
Cause as i understand it 2010 is artificially stimulating our economy.?

Yes I do think the curve is going up but by no means are we out of it yet.?

On the other hand if you look at our governments spending habits on luxuries I do not think they ever knew about the recession.
http://www.reuters.com/article/topNews/idUSTRE59B33T20091012

12 october 2009

We only admitted to having one in May 2009..

I do think we have a while to go.
 
Molokai said:
International standards my foot. Its definitely not part of our GDP
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Whichever way you look at it, it's most certainly economic activity, and should, in theory, be included in GDP figures as far as possible.
 
JungleBoy said:
International Standards...tiny island's standards do not count :D
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You missing the point. How convenient that crime is now part of the statistics just before GDP data is announced. Due to crime SA is now officially out of recession. If it was left as is, without crime, we would still be in recession. :erm:
 
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