The JSE closed lower on Wednesday, as general retailers and platinum shares retreated on softer commodity prices and GDP growth concerns. The platinum price was 1.01% lower at $951.55 at the JSE’s close. On Tuesday, Statistics SA said the economy grew a paltry 0.3% in 2016, with growth turning negative in the fourth quarter. Analysts said the economy could gradually recover this year. "Economic momentum is expected to rebound off the low base in 2016, with mining, manufacturing and agricultural activity expected firmer," Nedbank Corporate and Investment Banking analysts said. Barring any shocks, domestic or external, and if inflation starts to trend lower in a more convincing manner, interest rates are forecast to decline towards year-end, or in early 2018. "Risks to this view emanate from global monetary policy tightening, any flare-up in local risks and a vulnerable rand," Nedbank said. Gold and resources stocks also closed lower on the day, despite the rand pulling back 1% agains...
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