There are signs of an economic recovery afoot, bringing with it a promise of improved business and consumer confidence and further release of pent-up demand. But it may yet be too early to confirm an ease of pressure on the sales pitch.
Faisal Mkhize, managing executive: Absa Vehicle and Asset Finance
Growth was evident in many sectors of the economy, leading to a rebound in GDP during the third quarter in South Africa, albeit off a low base and coinciding with the easing of Covid-19 lockdown restrictions. Manufacturers have reported an improvement across subsectors and raised demand which, if sustained, will support momentum into the new year. Despite headwinds that include global restrictions on supply chains to curb the spread of the coronavirus, the sector’s production has reached levels similar to those of a year ago.