Trade conditions continued in negative territory in September 2015, with the seasonally adjusted composite Trade Activity Index (TAI) measuring 46 compared to 47 in August 2015.
The non-seasonally adjusted TAI remained at 46 and was two index points below the TAI of 48 in September 2014, noted South African Chamber of Commerce and Industry (Sacci) economist Richard Downing. Sacci COO Peggy Drodskie explained that there had been no easing in the tight conditions of households with debt remaining at about 78% of disposable income and real credit to households decreasing by 0.5% y/y.
The possibility of higher interest rates is an inhibiting factor, Downing added.
