South Africa Market

Bank of South Africa: South Africa's economic growth in 2012 will increase

South African Reserve Bank (central bank of South Africa) said South Africa's economic growth in 2012 will exceed 2011, South Africa, and independent economists predict growth will slow in 2012, 2013, will re-accelerate. 

British Standard Chartered Bank economist Raz - Asia Khan think that the euro is still South Africa's major trading partner and foremost export destination for South African manufactured goods. 

La Ziya Khan said: "The slowdown in economic growth in the euro area will be any impact on South Africa's economic development." Raz - Asia Khan said the South African economy to grow 3.2% this year, higher than 3 percent before the central South Africa is expected. Raz - Asia Khan predicted that South Africa's economy will grow 3.1 percent next year, will grow 4.1% in 2013. 

Union Bank of South Africa's macro-investment banking and fixed income research project leader Jeff - Gabr expects euro-zone gross domestic product will drop 1.4 percent this quarter, the first quarter of next year will continue to decline. 

Union Bank of South Africa had predicted investment banking from 2011 to 2013, the South African economy will achieve 3%, 2.8% and 3.8% growth. Union Bank of South Africa's investment banking in its latest quarterly outlook, said, "Although the international economic situation is poor, but consumers are still active in South Africa." 

Union Bank of South Africa's investment banking chief economist Gina - Schoeman said that in the past two years under the control of inflation, South Africa rely on their real disposable income led to increased retail development in South Africa and the increase in consumer spending, but inflation in South Africa recently relieved the revenue growth. 

Although South Africa in the third quarter non-farm sector employment increased by 5.9 million people, but the uncertainty of employment prospects hit consumer confidence. 

Wan Sheng Baohua said this week that the South African branch, according to its latest employment outlook survey, South Africa, the employer's recruitment program has decreased. Wan Sheng Baohua South Africa branch manager Peter - temperature (Peter Winn), said the European debt crisis may slow employment growth in South Africa one of the reasons.