The Durban Chamber of Commerce and Industry has forecast a positive future for businesses after 2010. Business is still recovering from the effects of the global economic downturn.

The chamber's CEO Gugu Mazibuko says companies have recorded a 5% increase in exports this year compared to last year's considerably decreased figures.

"There are very positive signs that there is recovery in our economy in KwaZulu-Natal. We have seen for an example in terms of exports - this is through the document that we issue which is called the certificate of origin, the volumes have increased for the certificates issued for products that are exported through the port of Durban. Also we have seen the decrease for companies and businesses that are applying for retrenchment packages which is also an indication that there is recovery," says Mazibuko.

Last year, South Africa sank into its first official recession in 17 years in the first quarter, with a collapse in gross domestic product (GDP) of a massive 6.4%.

The plunge in GDP in the first quarter followed a fall of 1.8% in the fourth quarter of 2008. A recession is defined as two consecutive quarters of declining GDP. (All figures are quarter-on-quarter, seasonally adjusted and annualised growth rates, unless otherwise stated.)

Economists said though this was probably the worst it would get in South Africa, another quarter of negative real growth was quite possible. Some believed the South African Reserve Bank would have no choice but to cut interest rates aggressively.