THE GOOD

Finweek English Edition - - THE WEEK -

The Re­serve Bank’s lead­ing economic in­di­ca­tor, which is used to fore­cast economic growth rates an es­ti­mated three quar­ters in ad­vance, showed a “mean­ing­ful” 1.1% month-on-month in­crease in Septem­ber, mark­ing the third con­vinc­ing in­crease in the last four months. Stan­lib chief econ­o­mist Kevin Lings says this in­di­cates that the econ­omy is man­ag­ing to avoid an out­right re­ces­sion, even though the rate of expansion re­mains “mod­est, and well below the level re­quired to result in wide­spread job cre­ation”. The in­di­ca­tor takes into ac­count fac­tors such as the num­ber of new pas­sen­ger ve­hi­cles sold, num­ber of build­ing plans ap­proved, com­mod­ity prices and busi­ness con­fi­dence lev­els.

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