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Global Macro-Market Outlook

South Africa: September 2010 Outlook Update

Global Economics Outlook, GDP and CPI data for South Africa

  • Unrest in the labor market and chronic unemployment pose a threat to domestic demand and will exacerbate the fiscal deficit.
  • An improvement in household spending might be curtailed by the loss of growth momentum in Q2 2010.
  • South Africa has reached the end of its easing cycle with the September rate cut and should stay on hold through H1 2011.

Outlook Update: Mining Disappoints

RGE maintains its forecast of around 3% growth in 2010, given structural weakness in the economy and stumbling external demand. We noted in the July Outlook update that the strong growth momentum registered[...]

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