Amidst a global economic downturn and slumping consumer confidence at home, it’s great to have some good news about the economy.
According to an article in today’s Business Day, there’s been a flood of new investment – R246 billion since the start of the year. While most of that has been driven from state-owned parastatals, R72 billion has come from the private sector, primarily in the finance and property sectors.
Incidentally, the second quarter GDP growth clocked in at a pleasing 4.9% – much healthier than the dark days (thanks to Eskom) of Q1 – which had a meagre 2.1% growth. Hillary Joffe is of the opinion that SA won’t be experiencing a recession in her fascinating opinion piece, also in today’s Business Day.
The unlikeliness of recession is also the theme of the Financial Mail‘s latest issue. Read it here.