South African economic growth may exceed IMF-estimated 2.6%

By bne IntelliNews May 20, 2010
South African economic growth mayexceed the IMF-estimated 2.6% and reach nearly 3%, head of regional studies atIMFs African department, Abebe Selassie, said. He doubts the European debtcrisis will have a measurable effect on the rand, although it has weakened by3.4%/dollar this month. March retail sales rose an annual 1% after falling arevised 1.3% in Feb, Pretorias Statistics SA, said. Recent retailer earningsare said to reflect a turnaround in consumer spending, but consumer debt is stillhigh.

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