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Stats SA reported a 3.3% y/y rise in retail sales volumes in July, lower than the (upwardly revised) 3.8% y/y growth rate reported in June, but notably higher than the 2.4% y/y increase captured by the INET BFA consensus estimate.
The South African Reserve Bank’s (SARB) Quarterly Bulletin confirmed that real GDP growth slowed to 1.6% y/y in 2Q15 from 2.0% y/y in 1Q15.
Speaking at the Sanlam Investments Institutional Insights conference in Johannesburg last week, Dr Philippa Malmgren said there is an intriguing stand-off taking place between the US Federal Reserve and emerging markets, with the likes of China and Russia accusing the world’s largest economy of inflating its way out of debt.
After being overlooked for so many years, the Chinese economy rose to prominence in 2007 with growth rates exceeding anything else the world had seen at the time. Like the former Soviet Union, it was now China’s time to build itself into a world economic superpower.
If you had to choose one approach to protect your hard-earned investment cash from today’s market madness, which would it be?