SA economy picks up steam

source: Fin24
Mar 23 2010 22:09

Johannesburg – The SA Reserve Bank’s March Quarterly Bulletin shows that SA’s economy is recovering, Investec Asset Management said on Tuesday.

Earlier, the SARB released a somewhat bullish bulletin in which it said that the SA economy had continued to gather momentum in the fourth quarter of 2009.

André Roux, head of fixed income at Investec Asset Management said the data contained in the bulletin represented the expenditure side of the economy and showed an expenditure pattern that was consistent with an economy that was recovering.

“Driving this recovery in expenditure is the fact that the decline in inventories is slowing sharply.

“This will continue to be the driver of growth for the foreseeable future as businesses begin to restock properly again,” Roux said.

He added that consumption was a [continue reading]

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