André Roux
André Roux
activity african both clearly compared confidence degree economy export high march performance positively rand sector seems slight south
The slight depreciation of the rand during March seems to have impacted positively on both the export performance of manufacturers as well as the degree of import competition. This is a positive development. However, compared to other sectors of the South African economy (excluding mining), where both activity and confidence are at high levels, the manufacturing sector is clearly still under pressure.
forced given income likely marginal reduce revenue tax
However, given the anticipated revenue overrun, he is likely to be forced to reduce all marginal income tax rates.
activity albeit contracted exchange explains january noted pressure rand rate strength sustained
Activity has now contracted for two consecutive months, albeit mildly. As noted in the January release, the sustained strength of the rand exchange rate probably explains much of the pressure on manufacturing.