🔒 Alec Hogg: ‘Lawless’ SAs getting on with life and economy benefits

South Africans abroad love describing their homeland as akin to living in the Wild West. There’s some truth in that. Laws here are often regarded as suggestions rather than obligatory, especially on the roads. Also, with modern day sheriffs overwhelmed by crime, many theft victims couldn’t be bothered to officially report their losses.

Also read: President Ramaphosa: Our top priority – to fix SA economy

There could, however, be some upside to living in the Wild West during this panic-ridden era of Covid-19. Although most South Africans do wear masks, for many that’s the limit of their compliance with government directives. From my experience, handshakes are back as are in-person meetings.
___STEADY_PAYWALL___

Aligned with this, a return to economic normality seems to be happening much faster than everyone predicted. New motor vehicle sales for last month, released yesterday, are down a modest 12% on November 2019. That’s further improvement on October’s 25% year-on-year decline. According to car-financier Wesbank, its volumes are back at 70% of pre-Covid levels.

Also read: A look inside FNB bank accounts reveals SA economy in surprisingly good shape – though wealthiest have suffered

Best signal, though, is in Stanlib chief economist Kevin Lings’s weekly pack of invaluable graphs. Included in them is SA’s Leading Economic Indicator which, as you can see above, has turned decidedly positive. So while the UK, Australia, the US and other SA-emigree favourites drop ever deeper into self-imposed economic contraction, “lawless” South Africans are getting on with life.

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