SA's middle class feeling the squeeze

Economic growth has taken a nose dive, with many families in serious trouble. 

JOHANNESBURG - South Africa's middle class is feeling the squeeze. 

Economic growth has taken a nose dive, with many families in serious trouble. 

You could say the country needs a financial parachute. But the fact is, most people can't afford to save. 

READ: 'Stop the Band-Aid approach': analysts

Just 10 years ago, we were flying high.

Now, we're hurtling towards disaster. 

The value of our economy dropped more than three percent in the first quarter. 

READ: Most South Africans are broke by mid-month

That's the biggest decline since the start of the decade. 

Old Mutual has done a survey asking South African families if their income covered all their expenses.

Almost 60-percent said they had enough money... but only some of the time. 

Nearly 20-percent said 'never, or hardly ever'.  

Michael Marillier has more in the video above
 

Source
eNCA

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