The flying trapeze
It was a balancing act between keeping her in sight as she gleefully wandered off and preventing any tantrums that would traumatise all the other passengers on the plane. It brought to mind the current state of the SA economy: very difficult to read! Neither the economic nor the socio political developments are clear cut. The economic data is very mixed.
Retail sales growth remains okay. Though growth is likely skewed more to upper-middle- income consumers, the overall trend is one of slowing consumption, but not a collapse.
Bank lending remains tepid, with total advances contracting slightly between July 2012 and July 2013 . In recent years, the major advances from the banks to households have been car loans and unsecured lending. The latter has slowed sharply, the former still looks a bit toppy.
More worryingly, business confidence remains weak, owing to factors ranging from cost pressures to the political climate. The third-quarter BER business confidence survey plunged to 42 from 48 in the second quarter.
The proportion of businesses citing the political climate as a constraint to expansion is at its highest level since 1993.... Read the full, comprehensive news article and discuss at Financial Mail