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Brief note intended as a more regular interface with our clients. The emphasis is to provide our interpretation of important economic events, such as South African Reserve Bank interest rate statements, and key data releases, including GDP growth figures.
This presentation-style note summarises the second quarter business survey results. In line with the drop in the RMB/BER Business Confidence Index, the average activity indicator dipped back to 17Q4 levels. Overall, the survey results highlight the tight spot the economy is currently in and imply that GDP growth for 2018 as a whole might be closer to 1.5% than to 2%
