Question: Consider the information below before answering the questions that follow: As at the end of quarter two 2023, the following economic data is available for

Consider the information below before answering the questions that follow: As at the end of quarter two 2023, the following economic data is available for South Africa. Economic growth (real GDP) increased by 0.6%. Inflation (CPI) improved from 5.4% to 4.7%. Unemployment improved from 32.9% to 32.6%. Exchange rate (Dollar vs Rand) (Source: StatsSA, 2023; Google Finance, 2023) 2.2 Based on the information provided, analyse South Africa's economic environment. Conclude on whether South Africa is in an expansion or a contraction. (8)

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