Muddling Along

SOUTH AFRICA - Forecast 05 Jul 2013 by Iraj Abedian
Executive Summary We forecast economic activity in South Africa to remain hesitant over the medium- term with inflation adjusted gross domestic product growth recording 2.0 per cent in 2013 and 2.4 per cent in 2014. Although we expect the issue of job creation to feature prominently in political debates ahead of next year’s general elections, we expect the labor market to remain weak over the medium-term, with negative implications for consumer confidence and spending. Given that inflationary pressures are on the upside (fanned by a weak rand and demands for unrealistically high wages) coup...

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