Latest member survey indicates small but determined steps towards a recovery
Sassda’ s most recent Short Track Survey (August 2017) took place against the backdrop of the South African economy spluttering back to life in the second quarter of 2017, after two consecutive quarters of decline. StatsSA reports that positive contributions to higher economic activity across most industries – in particular agriculture, finance and mining – lifted the gross domestic product (GDP) by 2.5% quarter-on-quarter (seasonally adjusted and annualised).
Agriculture continued to show strong recovery from South Africa’s recent drought, increasing production by 33,6% mostly driven by a rise in the production of field crops, in particular maize and wheat, as well as increased production of horticulture products such as vegetables.Read More
Sassda Short Track Survey – Tough times but a glimmer of hope…
Sassda has released its latest Short Track Survey (July 2017), which reveals the current and future outlook for members in terms of their current order situation and business outlook. Unfortunately, the survey revealed that the stainless steel industry is at its lowest level since the survey began in In addition, based on the first six months of this year, the forecast is for a drop of 15% in primary product supply into the local market. Fortunately, a glimmer of hope is that July saw a significant improvement in outlook compared to the last two months and the 3-Month Expectation Index is once again above 50 at 54.8, which indicates expansion in the next three months and is the best level since the cabinet reshuffle at the end of March 2017.Read More