The stats point to an economic picture which have been in development for the last 6 odd months. An economy with lots of uncertainty and with little growth momentum. The only real change has been in inflation which is moving in the wrong direction albeit fairly modest at this stage.

Its seems more and more likely that 2011 will be a year with lower economic growth, stable unemployment and higher inflation. Nothing to be to optimistic but much better than no growth.

What is evident and very clear is that its not the time to rock the economy or upset the economic cart. Strong economic leadership is required that adhere to sound macro economic principles and policies.

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Regards


General Manager: Intergovernmental Relations
KZN Provincial Treasury
Economist (MEcon, US)
033 897 4538
http://www.kzntreasury.gov.za/