Mexican Media Brands
South Africa Narrowly Avoids a Recession
South Africa’s economy, which shrank 1.3% in the second quarter, expanded by 0.7% in July-September, according to the government’s Statistics South Africa service.
#economics
Share
South Africa’s economy, which shrank 1.3% in the second quarter, expanded by 0.7% in July-September, according to the government’s Statistics South Africa service.
The tiny improvement averted an economic recession, which is defined as two consecutive quarters of contraction.
But the country’s data agency notes that some of the South Africa’s industries are in deep recession. The group is led by agriculture, which shrank nearly 13% in the third quarter. Mining contracted 10%.
RELATED CONTENT
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.