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South Africans mired in misery but still more upbeat than 2004

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Cape Town - Despite South Africans’ unhappiness with prevailing economic conditions, spirits are still higher than during previous economic crises, according to KPMG’s latest Economic Misery Index.

The index – which measures things people would like to see less of versus things they want more of – is not as bad as in recent history. For example, sentiments were much lower during the 1991-94 political transition, the 1997-98 Asian financial crisis, the 2001 bursting of the dot-com bubble, and the 2007-08 financial crisis.

South Africa’s Economic Misery Index is based on the Misery Index developed by Professor Steve Hanke of the Washington-based Cato Institute. 

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