South Africa's first-quarter GDP data may knock 'Ramaphoria'

South Africa’s quarter-on-quarter economic output will probably come as a setback to the improved sentiment that followed President Cyril Ramaphosa’s rise to power.

The annualised gross domestic product data, due to be released by the statistics agency Stats SA on Tuesday, will probably show Africa's most-industrialised economy shrank in the three months through March, compared with the strong expansion in the previous period, according to the median estimate in a Bloomberg survey.

That would be the first quarterly contraction in a year.