Trade report 29/05/2013
The extent of the economic slowdown in South Africa was made abundantly clear with the release of first quarter economic growth figures. Trade date released on Tuesday showed seasonally adjusted and annualised GDP increased by 0.9% in the first quarter far from the 1.9% what was forecasted. The agriculture and manufacturing industries retracted countering gains in the mining and finance industries. The lack of significant growth may result in the Reserve bank reducing lending rates again later this year.
In international news the American Standar & Poor’s Case-Shiller home price index posted its biggest gains in seven years on Tuesday. House prices increased in each of the 20 cities tracked. Housing improvements have seemed to lift consumer confidence and spending in the US and have countered fears that consumers would pull back in response to the government’s austerity measures.
To read the full report, visit the Currency Solutions website. Transferring funds out of South Africa or money transfers into South Africa – Let one of our professional consultants at assist you in securing the best foreign exchange rates in Cape Town. To know more about how we can help you Contact Us.
No comments:
Post a Comment