The KwaZulu-Natal economy showed some growth in the final month of 2013, but was held back by consumers who are generally in a difficult financial position. The latest KwaZulu-Natal barometer, as compiled by Mike Schüssler of Economists.co.za, grew 1.5% year-on-year, the best growth in 15 months, and also grew on a month-on-month and quarter-on-quarter basis. The barometer usually grows strongly in December, so the low growth number reflects the fact that most consumers are in debt, and so being cautious. The fact that the petrol price was already expected to increase in 2014, also contributed to slow consumer spending, something that is most likely visible throughout South Africa.

Click below link to view KZN Business Barometer:


Dr Clive Coetzee
General Manager:  Infrastructure Management and Economic Services
KZN Provincial Treasury
Economist (PhD UKZN)
033 897 4538
http://www.kzntreasury.gov.za/