November 14, 2021

May 2021 economic update – Moneyweb

The rand may remain strong for quite some time and even strengthen further from here.

Image: REUTERS/Mike Hutchings/File Photo

As we head into June, South Africa is now firmly in the grip of winter with temperatures plummeting over the last day or two. This, combined with bouts of load shedding at short notice and the threat of a third wave hanging over our heads, makes for a gloomy start to June but it was not all bad in May.

  • Supported by a multi-trillion-dollar stimulus plan and an aggressive $6 trillion budget, the US is now forecast to grow by 6,9% this year, bringing the US back to pre-crisis levels by mid-2021 and contributing 1% in growth to the global economy.
  • US inflation has increased to 4,2% year-on-year, the biggest increase since March 2008. It seems there are many opinions about whether this is a true concern or not with Bloomberg summing it up…

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