South Africa almost twice as likely to see another recession as in January

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The chances of South Africa heading into a recession have almost doubled since January, due to the prolonged Russian war in Ukraine that ushered in a new era of volatility. The beginning of the year saw the global economy rebounding to new highs, equity markets soaring and consumer spending recovering. Higher inflation was initially considered a short-term hiccup. But then the outlook for the global economy made a drastic turn in March 2022, with soaring commodity prices dramatically weakening the global inflation outlook and affecting consumer confidence negatively, turning the markets more volatile. “The risk of a recession has almost…



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