File: Moody's now expects the economy to contract by 2.5 percent.
JOHANNESBURG - Ratings agency Moody's has revised the forecast from a 0.4 percent expansion.
Moody's now expects the economy to contract by 2.5 percent.
It is less severe than the -5.8 percent contraction forecast by the International Monetary Fund on Wednesday.
Moody's cites the impact of the coronavirus crisis and the related lockdown as reasons for the revision.