After a very poor start to the year, most of Africa’s larger economies bounced back at the start of Q2. South African activity data suggest that the region’s most industrialised economy returned to growth in April after entering a recession in Q1. Survey figures suggest that Nigeria’s economy – which also contracted in Q1 – picked up at the start of Q2. Oil production picked up in both Nigeria and Angola, while inflation slowed in the two countries. Gentler inflation will provide a boost to consumers and help the non-oil economy to recover. The latest Kenyan data, admittedly, suggest that growth there was weak in both Q1 and Q2.
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