Less than thrilling path for re­cov­ery

Business Day - Home Front - - NEWS -

JIT­TERS Num­bers re­cently out from FNB and ABSA agree with SAPTG fig­ures and show a less than thrilling path for prop­erty re­cov­ery.

While some growth in the first two quar­ters cre­ated the im­pres­sion that the path to re­cov­ery was on track, al­beit at a luke­warm rate, lat­est statis­tics point to ad­di­tional dif­fi­cul­ties, more threat­en­ing than pre­vi­ously en­vis­aged. Our erst­while op­ti­mism is be­ing tem­pered more and more, with re­al­ism. While we are nowhere near the des­per­ate po­si­tion of the USA we nev­er­the­less con­tinue to feel the ef­fects of their con­ta­gion. Con­tin­ued macro-eco­nomic risks on the global front, and no­tably, in the USA as well as Eu­ro­zone coun­tries are cre­at­ing darker clouds and giv­ing in­vestors the jit­ters. Eco­nomic “me­te­o­rol­o­gists” are see­ing more thun­der and light­ing than sun­shine and roses. From a na­tional per­spec­tive, our debt level, though off the high of 83% in 2008, re­mains high at over 78%.

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