Loading...
See More

KZN growth helped by construction, transport

Mar 09 2012 07:00 Vida Booysen

Related Articles

Transport, construction power KZN economy

State cutbacks subdue KZN growth

KZN still squeezed by financial crisis

KwaZulu-Natal falls into slump

Private sector props up KZN economy

KZN's new airport under-used - official

 
Bloemfontein - In certain respects the KwaZulu-Natal economy is performing better than that of other provinces.

This can be seen from the Sake24 and BoE Private Clients' KwaZulu-Natal Barometer, which rose 8.9% year-on-year (y/y) – and then by a whole 29.7% since January 2009.

Other than in the other provinces, the construction index (19.7% up y/y) is still growing, owing in particular to extensions to Durban harbour.

The province’s trade index (8.3% up on the year before) is also the best among the five provinces. This is owing to vehicle sales in particular, which were 14.9% up y/y.

The KwaZulu-Natal unemployment rate (19.3%) is also lower than the national average of 23.9%.

“Although growth began to level out by the middle of last year, the provincial economy is in no way losing steam,” said Mike Schüssler of Economists.co.za, who compiled the KwaZulu-Natal barometer.

Another positive factor is that the stress index has also been falling in recent months. This index measures how easy or difficult it is to do business in the province, and it declined 2.2% y/y and 16% since January 2009.

The number of passengers moving through airports rose 2.3% in January, and freight handling in ports was 1.1% up. But it was land transport in particular that contributed to the provincial transport index rising 16.2% y/y.

The only sector in which the province fell back slightly was financial, property and business services, which was 2.8% down y/y.

“The revival in the construction sector will probably also have a positive effect on the property sector within a few months,” said Schüssler.
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 
 

3 sports games you have to watch this weekend

Whether it’s date night or a braai with buddies, plan around these three exciting sporting games!

 
 

Men24.com

How to maintain your mo, bro
Hottie of the day: Colette
Pro-skater Tony Hawk rides a hoverboard!
10 ways to drive her wild!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...