01:08 GMT 25th January 2012
'Metal prices were largely responsible for the upward trend, having risen by 12 per cent in November,' the IPPR said, adding however that the consumption index for the month was down, largely due to higher international oil prices. Metal futures prices in the African country - which has one of the world's largest uranium mines - as well as vehicle sales and the rising NSX stock index suggested the business climate would remain positive for the next six months, the institute said.
'However, the December-January slowdown in Namibia is expected to create some downward pressure as businesses run down their inventories and there is a dropoff in credit extension for businesses and consumers over the holiday period,' it added.
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