Expectations that the rand's exchange rate will weaken again this year has helped to boost fixed investment in KwaZulu-Natal in January.
The latest KwaZulu-Natal fixed investment monitor, as compiled by Mike Schüssler of Economists.co.za, showed overall fixed investment in the province is still increasing rapidly. In January the total investment index increased by 24.4% year-on-year and 11.1% quarter-on-quarter. This was largely due to exceptional growth rates in imported fixed investment goods, which was driven by the perceived strong exchange rate and the expectation that it will weaken later to boost competitiveness in the KwaZulu-Natal economy and its industries.
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