South Africa is nearly twice as likely to see another recession than in January

The chances of South Africa entering a recession have nearly doubled since January, due to the protracted Russian war in Ukraine which ushered in a new era of volatility. The start of the year saw the global economy rebound to new highs, equity markets rallied and consumer spending picks up. Rising inflation was initially considered a short-term hiccup. But then the outlook for the global economy took a drastic turn in March 2022, with soaring commodity prices significantly weakening the global inflation outlook and negatively impacting consumer confidence, making markets more volatile. “The risk of a recession is almost …