South Africa’s economy continues to offer flickers of hope despite developments at home, especially around political uncertainty and ongoing parliamentary debate following President Cyril Ramaphosa’s State of the Nation Address almost a fortnight ago.
In its latest weekly post-mortem, the Bureau for Economic Research states: “As is often the case, domestic financial markets largely ignored local developments. Including a lower-than-expected January consumer inflation print.”
According to the Bureau, economic fluctuations last week were swept along by the intensification of global reflation trade.
“Outside of the inflation release, the domestic data releases continued to show that there was still some recovery momentum in 2020 Q4.”