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Western Europe: Metal and automotive industries no longer "very high risks" category
While we broadly concur with the South African Reserve Bank’s assessment of local operating conditions as feeble at best, we remain concerned that they are hoping for a miracle.
The current deficit has widened more than expected, and South Africa has narrowly missed slipping a recession. Paul Stewart, head: fund management at Grindrod Asset Management, has commented on the economic situation as follows:
In the current difficult economic climate, many industries are performing poorly as growth stagnates and consumers remain cash-strapped; yet there are measures that companies can deploy to perform counter-cyclical to the economy.
The strongest deterrent against FSP compliance missteps is or should be: