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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.
The further decline in business confidence is generally in line with the underlying survey indicators. General business conditions remained depressed. Respondents mostly indicated further weakening of demand and hence activity measures. The Q4 results signals a further waning of year-on-year GDP growth.
