Continuing consolidation largely depends on whether or not tax relief announced in February provides new stimulus to this consolidating curve. |
Data releases for the closing months of 2005 are expected to reflect buoyant activity, especially as we tally up retailers' Christmas sales. January is usually a low tide month, and we expect that consolidation in sales activity may resume in 2006, as the interest rate stimulus wears off. |
With the rand expected to remain around its 2005 levels, and global inflation remaining low, imported inflation should again be mute in 2006. |