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Definition

A recovery from economic recession in which different parts of the economy recover at varying speeds. The terms came into use following the 2020 COVID-19 pandemic and the recovery from the recessionary conditions which that caused. The recovery was "patchy" with certain sectors benefiting from the pandemic (such as online retail) while others were virtually destroyed such as the tourism and hotel industry. In April 2021, the Reserve Bank warned that the recovery in the South African economy had been stronger than it expected, but that it was K-shaped.

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