October was one of the worst months for global equity markets. The US economic growth was 3.5% with consumer spending strong and confidence high. The Eurozone GDP disappointed, slowing down to 1.7% even though it is in line with their long term average growth rate.
Locally investors were hoping for the announcement of a larger deficit, but that was not to be. Ratings agencies have taken note, but no downgrades imminent.
CNBC Africa’s Gugulethu Mfuphi, together with Andrew Dittberner, Chief Investment Officer: Private Client Securities, Old Mutual Wealth and Henry Biddlecombe, Equities Analyst, Anchor Capital take a look at the overview in more detail.