Fund managers believe that South Africa’s economy, inflation and load shedding are heading in a positive direction.
According to the most recent South Africa Fund Manager Survey from the Bank of America (BofA), the fear of South Africa entering a recession is decreasing significantly, with the outlook for the economy turning positive.
The research, which took answers from 14 fund managers in July, shows that a net 21% of respondents expect the economy to strengthen in the next 12 months, which is the highest reading in 15 months.
Overall, 50% of respondents said that they expect the economy to get a little stronger in the next 12 months, with 21% expecting it to stay the same.
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