Africa Data Response South Africa GDP (Q1) South Africa’s economy weathered a second virus wave relatively well, but with cases rising again and other headwinds hanging over the outlook, the recent strength of the recovery is unlikely to last. 8th June 2021 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (May) The rise in South Africa’s manufacturing PMI in May points to an improvement in underlying economic conditions in the sector, but we think that the recovery will be held back by key headwinds... 1st June 2021 · 2 mins read
Africa Data Response South Africa Consumer Prices (Apr.) The jump in South Africa’s headline inflation in April, to 4.4% y/y, was driven by energy price effects but there were signs that broader price pressures are starting to build. But even so, we think... 19th May 2021 · 3 mins read
Africa Data Response Nigeria Consumer Prices (Apr.) The slight drop in Nigeria’s headline inflation rate, to 18.1% y/y in April, on the back of easing food price pressures will provide some ammunition to the doves on the MPC and means that it is... 17th May 2021 · 2 mins read
Africa Data Response South Africa Consumer Prices (Mar.) South Africa’s headline inflation rate crept up to 3.2% y/y in March but this was almost entirely due to energy price effects that will become more pronounced this quarter. In contrast, underlying... 21st April 2021 · 2 mins read
Africa Data Response Nigeria Consumer Prices (Mar.) The latest jump in Nigerian inflation, to 18.2% y/y in March, will probably reinforce the views of the hawkish minority on the central bank’s MPC. Our base case is that the majority of MPC members... 15th April 2021 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Mar.) The sharp rise in South Africa’s manufacturing PMI in March suggests that the sector bounced back quickly as virus containment measures were eased. But the recovery will continue to be held back by a... 1st April 2021 · 2 mins read
Africa Data Response South Africa Consumer Prices (Feb.) The fall in South Africa’s headline inflation rate, to 2.9% y/y, in February almost certainly rules out a hike in interest rates at Thursday’s MPC meeting. We think that the repo rate will remain... 24th March 2021 · 2 mins read
Africa Data Response Nigeria Consumer Prices (Feb.) The latest jump in Nigerian inflation, to 17.3% y/y in February is unlikely to prompt the central bank to tighten monetary policy as concerns about a weak recovery mount. 16th March 2021 · 2 mins read
Africa Data Response South Africa GDP (Q4) The slowdown in the pace of South Africa’s recovery in Q4 was less sharp than expected, but the economy is unlikely to gather much momentum over the coming quarters and we still expect GDP to be... 9th March 2021 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Feb.) The rise in South Africa’s manufacturing PMI in February suggests that the economy bounced back from around the turn of the year, and the recent easing of lockdown measures should support activity... 1st March 2021 · 2 mins read
Africa Data Response Nigeria GDP (Q4 2020) Nigeria’s Q4 GDP data showed that a poor performance in the oil sector was more than offset by a continued rebound in the non-oil economy. While we think that some of the headwinds facing the economy... 18th February 2021 · 2 mins read
Africa Data Response South Africa Consumer Prices (Jan.) The rise in South Africa’s headline inflation rate, to 3.2% y/y in January, is likely to be followed by further increases over the next few months but, with the economic recovery still struggling, we... 17th February 2021 · 3 mins read
Africa Data Response Nigeria Consumer Prices (Jan.) The latest jump in Nigerian inflation, to 16.5% y/y in January, on the back of surging food price pressures, is likely to increase pressure on the central bank (CBN) to tighten monetary policy. But as... 16th February 2021 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Jan.) The rise in South Africa’s manufacturing PMI in January appears to hide underlying weakness in activity on the back of virus-related restrictions. Even with some signs of a break in the clouds over... 1st February 2021 · 2 mins read
Africa Data Response South Africa Consumer Prices (Dec.) The further drop in South Africa’s headline inflation rate, to 3.1% y/y in December, coming alongside the recent tightening of virus containment measures supports our view that the Reserve Bank will... 20th January 2021 · 2 mins read
