ARB, the listed investment and property holding company, is bracing itself for continued fragility in the SA economy, "with no clear direction set by government in the near to medium term", say chair Alan Burke and CEO Billy Neasham. ARB becomes the latest company to highlight the unlikelihood of a quick turnaround in the economy. This is in line with wider expectations that growth in 2018 will be lower than previously anticipated. Finance minister Nhlanhla Nene recently warned that the National Treasury was likely to have to revise down its growth forecast for 2018, from the current forecast of 1.5%. The Reserve Bank has slashed its growth projections for the year from 1.2% to 0.7% in July. A weak macroeconomic environment presents a downside risk for the group, which services the infrastructure and construction sectors. "It is our view that the economy will remain fragile, with no clear direction set by the government in the near to medium term. "Poor investor and consumer confide...

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