The JSE FTSE All Share Index opened the week near 101,000 points, with mixed sectoral performance. The financial sector and producer manufacturing showed gains, while utilities and communications lagged. U.S. tariffs threaten South Africa's export industries, potentially impacting jobs. The South African Reserve Bank has adjusted growth forecasts but recognizes resilience from trade ties with Europe and China. Structural reforms and improved electricity supply are critical for recovery. Upcoming manufacturing data is expected to indicate growth, but high unemployment remains a concern for consumer confidence and spending.
The 30% tariffs imposed by the United States on South African exports pose a serious threat and risk harming key export industries that depend heavily on the U.S. market.
The South African Reserve Bank (SARB) notes that external pressures have slightly lowered growth forecasts but sees resilience due to trade links with Europe, China, and regional partners.
The bank stresses the need for structural reforms, alongside better electricity supply, to support recovery.
High unemployment, which rose to 32.9% in the first quarter, continues to weigh on consumer spending and confidence.
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