For reasons that are somewhat hazy, but certainly important, the new administration and the new president are not inspiring the economy to rev up. This week, three indicators of very different types underlined that significant development.
It’s worth pointing out too that the IMF numbers are very influential, and can change expectations. And, being predictions, they can be very wrong; in 2018 the IMF was predicting SA would grow by 1.5%. Eventually, growth came in at 0.8%. That would be almost 100% wrong. The third hit came from BankservAfrica’s monthly Economic Transaction Index data for March. This measure has the great advantage of being very specific and very fast, measuring essentially all bank transactions.In March, banked economic transactions declined by 0.4% from February. On an annualised basis, the BETI dropped by 1.8% and declined by 0.6% on a quarterly basis,” the organisation said.
We're we really expecting a different outcome? Government is in tatters, Cyril house is still not finished, everyones rioting, burning books, throwing chairs, it's a baby written soap opera, Days in S. A.........
Not only hits, those are big hits, as well tim_cohen. I can't help wondering what S&P are smoking to get all that Ramaphoria....🙄
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: Africa Growth at 7-Year High, No Thanks to Its Major EconomiesGrowth in Africa’s two largest economies may be sputtering along but that won’t stop the continent’s gross domestic product from expanding at the fastest pace since at least 2012.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Namibia Commits to Rand Peg as Economy Limps Out of SlumpNamibia is ruling out dropping its currency peg with the South African rand “unless something very drastic happens,” given the close trade links to its larger neighbour and the drive by the world’s biggest producer of marine diamonds to recover from a two-year recession. Surprised(not really), that the ANCorrupt, hasn't called RandrANC(i)d .
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: China Steps Up Gold-Buying Spree as PBOC Adds for a Fourth MonthChina’s on a bullion-buying spree. The world’s second-largest economy expanded its gold reserves for the fourth straight month, adding to optimism that central banks globally will continue to build holdings.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: The balance in SA’s bloody strike at Sibanye-Stillwater’s mines tips slightlyThe strike at Sibanye-Stillwater’s three critical gold mines is a classic power battle between NUM and Amcu, overlaid on top of another classic power battle between Amcu and the company whose CEO Neal Froneman is one of the shrewder operators that Amcu boss Joseph Mathunjwa has had to deal with for some time. The balance has tipped slightly in the company’s favour, but the outcome is still far from certain.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Standard and Poors Sees S.A Policy Reforms Continuing After ElectionStandard and Poors Global Ratings is counting on the ANC to continue with policy reforms after the May 8 election, and this is why there is stable outlook on SA's credit rating.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick Analysis: Why poor housing prices are a blessing in disguiseIt’s a terrible irony. South African house prices, adjusted for inflation, are as flat as an ironing board and have been for around a decade. And that just may save us all the heartache at least some of the developed world faces as their residential markets come under pressure.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Stocks Post Longest Rally of Year; Dollar Gains: Markets WrapU.S. stocks rose for a sixth consecutive day and the dollar strengthened as investors remained bullish about U.S.-China trade negotiations and key jobs data tomorrow in Washington. info well noted daily maverick
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Rico: Cartoon Friday
Source: dailymaverick - 🏆 3. / 84 Read more »