SA is not in a recession, says Manuel

It's quite interesting that Minister Manuel recons that this country is not in a recession. Yet in the M&G article -> Economist: SA is in a recession - "We have been hit by the global situation and anyone who thinks we are not in a recession is wrong. We are in one now," said economist Mike Schussler, it suggests exactly the opposite.

I get the idea that nobody really knows, or, are they are trying to hide facts from the public? Let's wait and see who knows their business, Mike or Trevor.

Whilst we appreciate so much the spirit of solidarity extended to the people of Zimbabwe in the form of a significant aid package, I would like to appeal to you the African leaders to closely watch and deter careless moves by Mugabe as he tries to kill our young (GNU)which many have paid for so dearly.God has raised you at the right moment to come to our rescue. Therefore do not neglect or stand aloof, but rise up! speak, rebuke sharply and even act accordingly as a tool in the creator's hand to obtain yourself a good name. Let history always remember you for good work not failures.

I respect mr Mugabe like many of you as war liberation hero, but believe me the man is full of pride, spite and arrogance which his supporters erroneously regard as PATRIOTISM.

Technically a country is in recession if there is negative real growth for 2 consecutive quarters.

So no. We are not in a recession.

Besides how bad do you think it would be for South Africa if a Finance minister just called it a recession before it is official?

its all semantics anyway, fiddle with the figures, jipo the system, leave some stuff out. And magic no recession. The fact of the matter, is technically were not in a recession but wait one more quarter and we will be.

Just as everywhere else on this globe, with worldwide communication greedily spreading especially negative vibes, I get the impression that between the media, certain so-called economical experts, speculators, and a number of politicians are all thriving on telling us the allegedly bad news of a recession (great depression as a worst-case scenario) making us all wallow in self-pity before it actually hits us. If it does at all. Thanks for a vote of confidence, Mr. Manuel.
Sigrid H. Oliveto

Recession or not "technically" is not really the point. The whole world is in financial turmoil and it would be foolish to believe that South Africa can or did escape this crisis.
What is more important is that if the "writing is on the wall" do not ignore it and act accordingly to minimize the impact. In other words take some of the medicine earlier rather than later.

Recession or not "technically" is not the point. The whole world is in financial turmoil and it would be dangerous for anybody in South Africa to assume that they can avoid being impacted.
What needs to be done is - see the crisis for what it is and take steps to minimize the impact on the economy. In other words take the medicine sooner rather than later. By making politically expedient speeches does not resolve the crisis.

South Africa not in recession? Like we were immune from the credit crunch? Our banks are sound? Our banks are only more sound than those of the US and UK because they rip the public off. We, the public have kept them liquid. We are now talking about bailing out the motor industry. We are definately going into recession. We are close on the heels on all the other countries already in one. The difference between us and the west is their media tell it as it is while ours relay what our government say.

It is very strange that Trevor Manuel and the rest of his cabinet seem to alwalys be ready to aid out Zimbabwe..I dont hear him saying that R1bn will be used to improve the poor schooling system or that the money wil be used to help out the poor. Why is it that they are so ready to help out another country when ours is in need of those financial resources. Mr.Manuel will you ever get your prioritise straight?