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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 shows that the further dip in confidence and activity during the third quarter does not bode well for year-on-year GDP growth (at least non-agricultural GDP) in Q3. Overall, the survey results foreshadow continued underperformance of the economy in the second half of the year. This implies that it may be difficult to register even 1% GDP growth in 2018.
