Why does this matter to me?

The welcome recovery in South Africa’s short-term business conditions is showing more convincing signs of fading – the implication being that the healthy retail and automotive sales we have seen recently may not be sustained. A setback could well have a negative knock-on impact on already weak expected GDP growth through 2025. In contrast, the ongoing long-term indicator recovery (off a weak base) is positive. Unfortunately, domestic politics and global tariff fears have heightened uncertainty, and risks remain.