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New car sales in reverse gear
2015-09-02 11:20:41| Auto Dealers - Topix.net
Weak new vehicle sales, together with the 1.3 percent contraction in gross domestic product in the second quarter and the drop in the latest purchasing manager's index, are signalling that South Africa's economy is already in recession. This was the view of Econometrix chief economist Azar Jammine yesterday, who added that if the economy's recession in the third quarter was confirmed in three months' time, it would mean it could grow "no more than 1 percent this year".
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Category:Automotive