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DECEMBER |
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International background and outlook |
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The global economic climate remains very vulnerable. Growth in developed countries continues to be hampered by high government debt levels, impaired banking systems and weak confidence. The worsening Eurozone crisis has made at least a mild recession in that region very likely and prospects elsewhere are modest . . . |
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[ 257 KB ] |
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SEPTEMBER |
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International background and outlook |
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Risk aversion soared in the third quarter as recession fears resurfaced. Growth in the developed world failed to bounce back as expected following the restoration of most of the supply chain hurt by the Japanese natural and nuclear disasters earlier in the year . . . |
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[ 259 KB ] |
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JUNE |
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International background and outlook |
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Global growth has slowed in recent weeks while inflation has remained relatively high. High unemployment, weak credit markets, and massive public and private debt . . . |
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[ 221 KB ] |
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FEBRUARY |
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International background and outlook |
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The year has started with improved optimism following a difficult two years. Markets are reflecting the better sentiment and there is hope that a more normal pattern of growth will resume . . . |
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[ 221 KB ] |
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SEPTEMBER |
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International background and outlook |
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The global economic upswing has lost some momentum and is looking more fragile. Growth in most developed countries has slowed as the effects of earlier policy stimulus and the technical boost provided by the inventory cycle fade . . . |
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[ 952 KB ] |
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APRIL |
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International background and outlook / Domestic review and prospects |
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The upswing in the global economy has gathered momentum, helped by some normalisation in spending and financial markets. The ongoing effects of the inventory cycle as well as stimulatory government and central bank policies will last into the second half of 2010 . . . |
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[ 978 KB ] |
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DECEMBER |
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International background and outlook / Domestic review and prospects |
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The recovery in the global economy became broaderbased in the second half of the year. Massive monetary and fiscal stimulus in both developed and developing economies have stabilised the financial system, helped a recovery in asset prices . . . |
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[ 466 KB ] |
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AUGUST |
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International background and outlook / Domestic review and prospects |
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Hopes of a recovery in the global economy have been spurred by some improvement in cyclical indicators. This has largely been facilitated by a massive monetary and fiscal policy stimulus across developing as well as emerging market economies . . . |
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[ 981 KB ] |
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APRIL |
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International background and outlook / Domestic review and prospects |
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The global economy remains in the most severe recession since World War II. Although hopes are starting to grow that the worst of the contraction is now over, any recovery is likely to prove erratic . . . |
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[ 355 KB ] |
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JANUARY |
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International background and outlook / Domestic review and prospects |
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The downturn in the global economy intensified in the fourth quarter. In advanced economies economic activity slowed significantly . . . |
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[ 1 MB ] |
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OCTOBER |
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International background and outlook / Domestic review and prospects |
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The global financial crisis worsened dramatically towards the end of the third quarter, culminating in massive nationalisations and bailout plan proposals . . . |
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[ 1 MB ] |
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JUNE |
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Is inflation alive again? |
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After a remarkable period of low inflation, the past year has seen inflation globally creeping upwards . . . |
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[ 215 KB ] |
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FEBRUARY |
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The energy constraint |
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The possibility of an energy constraint on economic growth emerging has been well documented for at least a decade, when a government White Paper famously noted that supply problems . . . |
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[ 276 KB ] |
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OCTOBER |
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What a US recession might mean for South Africa |
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If this occurs, it will be the first serious test of the decoupling theory that holds that other major economies . . . |
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[ 116 KB ] |
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JULY |
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Balance of payment drivers |
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The current deficit remains wide, but its composition is improving . . . |
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[ 691 KB ] |
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APRIL |
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Is consumer debt worrying? |
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The strong rise in debt is causing concern that household finances have become overstretched . . . |
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[ 704 KB ] |
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DECEMBER |
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How 'constrained' is the economy? |
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Economic growth has been very strong in recent years . . . |
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[ 412 KB ] |
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SEPTEMBER |
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How much further will interest rates rise? |
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Globally, interest rates have been on the rise, moving off the lows seen in recent years . . . |
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[ 324 KB ] |
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MAY |
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Is the widening current account deficit a problem? |
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Imports have been growing at a much quicker pace than exports . . . |
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[ 89 KB ] |
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JANUARY |
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Good prospects for investment |
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The Nedbank Capital Expenditure Project Listing shows that fixed investment activity . . . |
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[ 81 KB ] |
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DECEMBER |
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Is the rand set to remain under R6 to the dollar? |
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The collapse of the US dollar has greatly benefited the rand . . . |
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[ 260 KB ] |
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SEPTEMBER |
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Interest rates – entering uncharted territory? |
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The recent interest rate cut is significant as it represents one of two possibilities . . . |
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[ 256 KB ] |
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JUNE |
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Global environment – trouble ahead? |
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The international environment has improved over the past year as growth in the US and China . . . |
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[ 345 KB ] |
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JANUARY |
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Interest rates – where to now? |
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A sudden weakening of the rand has reduced the chances of further monetary easing in the short term . . . |
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[ 286 KB ] |
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