The KwaZulu-Natal economy is treading water and while another recession is not yet a possibility, it is time to be concerned about the stagnation of the province’s economy. This already hit small businesses harder than large businesses.

The latest KwaZulu-Natal barometer, a measure of economic activity in the private sector and government as compiled by Mike Schüssler of Economists.co.za, grew by 5.6% year-on-year, but only 0.1% quarter-on-quarter and 0.8% from the month before. Most sectors in the KwaZulu-Natal economy still look good year-on-year, but are starting to show signs of stagnation over a shorter term. The KwaZulu-Natal economy grew by 4.1% year-on-year in August, but declined by 0.9% and 0.1% on a quarter-on-quarter and month-on-month basis.

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KwaZulu-Natal Business Barometer August 2012 - 0.4 Mb