SOUTH AFRICA IN THE HAND BASKET OF HELL

South Africa's GDP rose an annualised 3.3% in the second quarter.  In doing so, the country avoided a technical recession.

It sounds like good news, but GDP statistical data does not tell the whole story. The fact that a technical recession was avoided is of little or no solace to the millions of South Africa's unemployed.  To the impoverished masses a modest recovery in GDP figures means nothing at all.  They will still face ongoing extreme hardship despite the rise in GDP.

The mining and manufacturing sectors contributed to GDP recovery.  What was not taken into account was the ongoing political chaos, exacerbated by lack of direct foreign investment, drought, low commodity prices  and probable downgrading of the country's sovereign credit rating to junk status. One must also add corruption in the public sector and ANC imploding factionalism to the mix.

An increase in GDP doesn't cut it when the country has been in the hand basket of hell for sometime.