Positive outlook for economy
Johannesburg - Domestic demand remains resilient and continued high levels of consumer and business confidence indicate that significant strength will be sustained in the domestic economy into the second half of 2006, the South African Reserve Bank (SARB) said in its November Monetary Policy Review.
The SARB added that it was too early to fully assess the impact of the recent tightening policy.
While household consumption was forecast to ease a little and consumer spending to moderate a little, the SARB said sustained buoyancy in consumer spending was implied by the relatively high level of consumer confidence overall.
The SARB also highlighted that government consumption outlays could be expected to remain high given government's stated objectives as set out in the Medium-Term Budget Policy Statement.
"Business conditions indicators suggest that business confidence remains upbeat," the SARB added.
News source: www.news24.co.za
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