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Gauteng Construction Burgeoning
"It also places into perspective the contribution of the 2010 Soccer World Cup of between R50bn and R60bn to South Africa's gross domestic product," Ballim said.
The R1.2 trillion represents a composite figure which includes activity in the extended supply chain of the construction industry, in the residential and commercial fields.
"April was probably the weakest barometer we have seen since we launched in June last year," said T-Sec economist Mike Schüssler. "The main reason for this is the negative impact of higher interest rates and inflation. Implementation of the eNaTIS system (the national traffic computer system) also has an impact. The effect is more severe than we thought would be the case, four or five months ago.
"The economic sectors that performed worse month on month and year on year were the mining and trade sectors. The trade sector, which includes retailers, wholesalers and tourism operators were hit by the effects of the eNaTIS system, resulting in 6.2% decrease in motor vehicle sales." |
Posted on Wednesday, May 30, 2007 (Archive on Saturday, June 30, 2007)
Posted by hayleym Contributed by hayleym
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