PROFILE says David Pike, Standard Bank Head: Commercial Banking for Gauteng. The data shows that the growth rate achieved over the five years to 2016 of 2% can be maintained over the next five years despite all the challenges. While manufacturing grew just 0.6% in Gauteng from 2011-16, it is expected to rise by 1.4% in the upcoming period to 2021. Another surprise is that while the electricity, gas and water sector fell 1.5% five years ago, it is expected to lift by 1.3% now. And while agriculture declined 1% from 2011-16, it is expected to advance by 2.1% over the corresponding fiveyear period. “There will certainly be significant challenges ahead, especially from the consumer perspective and we forecast wholesale, retail trade, catering and accommodation to rise 1.8%
in Gauteng from 2.4% in the prior five years and for construction to drop from 2.8% to 1.9% in the upcoming period,� says Mr Pike. Businesses in the region should not rush in with their eyes wide shut and would need to ensure they are well placed to take advantage of the growth shoots that do exist.
Green shoots in the economic heartland of Gauteng show that a growth rate of close to 2% can be achieved over the next five years. GAUTENG BUSINESS 2017/18
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