Local business shows potential for positive medium-term growth
Consumer confidence has improved markedly since last year
02 August 2018 - 15:03
South African companies are poised to invest locally as soon as consumer demand shows signs of picking up. This is a marked change from last year, when they showed a preference for foreign diversification. After the shocking 2.2% decline in first-quarter gross domestic product (GDP) growth, subsequent economic data has improved, in particular for the retail and manufacturing sectors. But none of it suggests this economy is especially buoyant. While we may avoid a technical recession if GDP growth in the second quarter is positive, it will be a small positive.
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