Barring shocks, SA growth could exceed low local and international forecasts
SA has reached the end of what some have characterised as a season of downgrades to its economic growth forecasts, says Dave Mohr, chief investment strategist at Old Mutual Multi Managers. "Slowly but surely, at least in the short-term, some things are turning in our favour, although we’ll probably only start seeing the results of that next year," Mohr said on Thursday. If the shocks that SA’s economy had experienced over the last two years were not repeated, it would not be surprising if growth exceeded current low domestic and international forecasts, he said, speaking at an Old Mutual Multi Managers Investment Mindspace event in Johannesburg. "Unless the global economy goes into a complete meltdown, I think we’re unlikely to see the same weakness in commodity prices that we have seen. Commodities could be more stable and improve a bit from these very low levels." Alongside the commodity price collapse, SA’s economy had suffered over the past two years from load shedding, the wors...
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