On the road to … Zimbabweville: South Africa Slides Into Recession For The First Time Since 2009

With South Africa reeling amid concerns of land expropriation, the rand tumbling amid broad emerging market fears and the local economy pressured by collapsing consumer spending, moments ago the Pretoria-based Statistics South Africa announced that Q2 GDP contracted at a 0.7% annualized rate, missing expectations of a 0.6% increase, and together with the sharp drop in Q1 GDP, South Africa has now officially entered its first recession since 2009.
— Read on www.zerohedge.com/news/2018-09-04/south-africa-unexpectedly-slides-recession-first-time-2009