Thus, exogenous influences are an integral part of policymaking today. This includes, inter alia, the spillover risks generated by policy decisions in large key economies such as the US or China. To further support global growth, there is therefore a need for continued global cooperation, and well calibrated communication, in order to mitigate the negative spillovers national policies may generate.
South African economic developments and outlook 2015 was a challenging year for the South African economy. Despite consecutive contractions in the primary sector in the second and third quarters, we avoided a technical recession in the third quarter. The economy registered annualised growth of 0.7 per cent in the third quarter, driven by a rebound in the manufacturing sector.