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Podcast: WorldWide Markets with Simon Brown
Episode: Load shedding impact revealed by weaker GDP (#531)
Description: Simon Shares The local Q4 GDP came in at -1.3%, worse than expected -0.4% and shows the real pain of load shedding and Transnet issues. Q1 2023 not expected to be any better. Every set of results mentions load shedding and retailers are spending ±R1billion a year on diesel. Rand is looking weak, very weak. Grindrod (JSE code: GND) had good results and are clearly benefiting from the failure of Transnet ports. Bank results are looking good with Firstrand (JSE code: FSR) very strong and Nedbank (JSE code: NED) good and doing a R5billion share buy back.