South Africa has the third-largest public sector wage bill as a proportion of GDP in the world, which at about 10.5% of GDP greatly exceeds that of countries like the US, UK, Australia and Japan. But ...
IMF sees modest global growth but big trade risks; US data second-tier & better; Canadian PPI deflates; EU car sales stay weak; UST 10yr 4.20%; gold and oil up; NZ$1 = 60.4 USc; TWI = 69.1 ...