Africa Data Response

South Africa & Nigeria Manufacturing PMI (Jul.)

The pick-up in South Africa’s manufacturing PMI for July supports our view that the economy will strengthen in the second half of this year.

1st August 2018 · 1 min read

Africa Data Response

Nigeria Consumer Prices (Jun.)

Inflation in Nigeria slowed in June, and we think that it will continue to ease over the coming months. While policymakers will keep their key rate on hold tomorrow, they will probably cut later this...

23rd July 2018 · 1 min read

Africa Data Response

South Africa CPI (Jun.)

June’s softer-than-expected inflation print supports our view that fears of a rate hike are misplaced. We think that the SARB will keep policy on hold this year, before cutting its key interest rate...

18th July 2018 · 1 min read

Africa Data Response

South Africa SACCI Business Confidence (Jun.)

The latest drop in the SACCI Business Confidence Index strengthens our view that South Africa’s economy remained weak in Q2.

10th July 2018 · 1 min read

Africa Data Response

South Africa Manufacturing PMI (Jun.)

The fall in South Africa’s manufacturing PMI for June provides further evidence that the slump in the economy seen in Q1 was followed by further weakness in Q2.

2nd July 2018 · 1 min read

Africa Data Response

South Africa Current Account (Q1)

After widening in Q1, South Africa’s current account deficit will likely narrow later this year. The deficit strengthens calls for a rate hike, though we maintain that the SARB will leave rates on...

21st June 2018 · 1 min read

Africa Data Response

South Africa CPI (May)

South African inflation eased slightly in May, which should reduce speculation that the SARB will hike rates in the coming months. We think that policymakers will keep rates on hold, before cutting in...

20th June 2018 · 1 min read

Africa Data Response

South Africa Manufacturing production

South Africa’s manufacturing sector strengthened in April, but a key portion of the industry continued to contract. In q/q terms, growth was actually weaker than in Q1.

7th June 2018 · 1 min read

Africa Data Response

South Africa Manufacturing PMI (May.)

Today’s manufacturing PMI – which fell to 49.8 – provides yet more evidence that South Africa’s economy struggled in early 2018. We retain the view that growth will pick up later this year.

1st June 2018 · 1 min read

Africa Data Response

South Africa CPI (Apr.)

South African inflation edged up to 4.5% y/y in April, following a VAT hike at the start of the month. Taking that together with the recent fall in the rand, we think that the MPC will leave interest...

23rd May 2018 · 1 min read

Africa Data Response

Nigeria GDP (Q1 2018)

Nigeria’s economic recovery lost momentum in Q1, but we still think that growth will strengthen later this year. Higher oil revenues should provide a big boost to incomes in Q2.

21st May 2018 · 1 min read

Africa Data Response

Nigeria Consumer Prices (Apr.)

Inflation in Nigeria slowed sharply in April, and we think that it will continue to ease over the coming months. This will prompt policymakers to cut their key rate from 14.00% to 13.00% in June.

15th May 2018 · 1 min read

Africa Data Response

South Africa Manufacturing PMI (Apr.)

Today’s strong PMI reading – which recovered to 50.9 – may not tell us much; the measure has been highly volatile lately. Other indicators, however, also point to growing confidence in the economy.

2nd May 2018 · 1 min read

Africa Data Response

Nigeria Consumer Prices (Mar.)

Inflation in Nigeria slowed sharply last month, and we think that it will continue to ease over the coming months. This will prompt policymakers to cut their key rate from 14.00% to 12.00% by year end...

12th April 2018 · 1 min read

Africa Data Response

South Africa Manufacturing production

Growth in South Africa’s manufacturing sector cooled in February, providing another sign that the economy faltered a bit in Q1. Even so, we retain the view that growth will pick up later this year.

10th April 2018 · 1 min read