Transport’s influence on overall inflation has waned since mid-2022 when it was the biggest factor behind the rise in the cost of living.
But central banks remain conservative in their fiscal policies given the unpredictable geopolitical environment.
Ratings agency Fitch said South Africa’s economy was likely to grow by 0.9% this year, 1.5% in 2025, and 1.3% in 2026.
Trade unions expect wages to rise by 5.6% in 2024 and by 5.9% in 2025.
He stressed that the tariffs would ensure these nations "compensate" the US for historical trade imbalances.
New agreements with the world’s second-largest economy will see an increase in the export of agricultural products and manufactured goods.
New vehicle dealers showed the biggest increase in confidence, albeit from a low base during the third quarter of the year.
Sihle Ngcamu previously worked for the provincial organisation as an executive manager responsible for investment promotion.
But transport, storage and communication sectors contracted by 2.2%, dragging down overall output.
Export sales declined, possibly due to supply chain issues and slow demand in Europe and China.
Motorists can expect yet another drop in fuel prices as inflation hits a three-year low.
The President highlighted that government and business were in agreement about various areas.
Delays have severely affected the management of container stacks at Durban Container Terminal Pier 2 in particular.
