Over the last three years, however, growth has averaged about 5 per cent and the current trend in the economic growth rate is the longest experienced in the country's recorded history. 3. Improved macroeconomic performance: some side-effects  A side-effect of strong economic growth in many emerging market countries is the growing middle class.
This has been particularly true for both India and South Africa. The rapid emergence of this middle class brings opportunities that will have a significant impact on future prosperity but also poses a rather unique set of challenges for policymakers. With increasing affluence, there is bound to be a change in consumption levels and patterns.