Upbeat Confidence Likely to Face Some Correction

SOUTH AFRICA - Forecast 15 Dec 2014 by Iraj Abedian
Executive SummarySouth Africa’s economic recovery faces a steep uphill on the back of structural blockages in the energy. Sporadic electricity supply during the last quarter of 2014 will in all probability sap some of the confidence exuded by firms in recent opinion surveys. Against this backdrop, South African economic growth performance is below potential. Revised estimates of GDP growth show that the economy grew by slower rates between 2007 and 2012 than previously reported. In addition, recent IMF estimates show that potential GDP growth has declined from 3.5-4 per cent in the early 20...

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