Africa Data Response South Africa Mining & Manufacturing Output (Jul.) Manufacturing and mining output figures for South Africa released today were both above consensus, but both figures were distorted by the comparison with last year’s disruptions. Underlying growth in... 10th September 2015 · 1 min read
Africa Data Response South Africa Manufacturing PMI (Aug.) The fall in South Africa’s manufacturing PMI last month provides yet further evidence of economic weakness. Perhaps the best that can be said is that the manufacturing sector’s performance so far in... 1st September 2015 · 1 min read
Africa Data Response South Africa GDP (Q2) The sharp drop in South African GDP in Q2 was the second worst outturn since the depths of the global financial crisis. Today’s data may prompt the Reserve Bank’s MPC to think twice before next month... 25th August 2015 · 1 min read
Africa Data Response South Africa Consumer Prices (Jul.) Inflation in South Africa ticked up to 5.0% in July, and we expect that it will continue to rise over the coming months. Accelerating inflation and a weak rand mean that the Reserve Bank is likely to... 19th August 2015 · 1 min read
Africa Data Response Nigeria Consumer Prices (Jul.) Today’s figures show that Nigerian inflation remained at 9.2% y/y in July, but we still expect that inflation will pick up later in the year. FX restrictions and the eventual weakening of the naira... 12th August 2015 · 1 min read
Africa Data Response South Africa Manufacturing Output (Jun.) Today’s manufacturing output figures were slightly above consensus, but still point to a contraction in the economically-crucial sector. Firms have failed to benefit from a weaker rand, another sign... 11th August 2015 · 1 min read
Africa Data Response South Africa Manufacturing PMI (Jul.) South Africa’s manufacturing PMI remained stable at a relatively strong 51.4 in July, providing a rare piece of good news for the economy. But we still doubt that manufacturing will be a significant... 3rd August 2015 · 1 min read
Africa Data Response South Africa Trade Balance (Jun.) & Kenya Inflation (Jul.) The surprisingly large improvement in South Africa’s trade balance in June was the result of rising exports, rather than just weak import demand. This is a positive sign for the economy, which has... 31st July 2015 · 1 min read
Africa Data Response South Africa Consumer Prices (Jun.) South African inflation came in at a below-consensus 4.7% y/y in June, but inflation remains on an upwards trend. While this surprise result will take some pressure off the Reserve Bank, we still... 22nd July 2015 · 1 min read
Africa Data Response Nigeria Consumer Prices (Jun.) The seemingly inexorable rise of Nigerian inflation – which reached a 28 month high of 9.2% y/y in June – will add to the pressure on the central bank to raise interes trates later this year. 14th July 2015 · 1 min read
Africa Data Response Kenya GDP (Q1) Kenyan GDP growth slowed to 4.9% y/y in Q1 due to a contracting tourism sector and tepid growth in the agricultural industry. However, we think that the slowdown has bottomed out and that growth will... 1st July 2015 · 1 min read
Africa Data Response South Africa Manufacturing PMI (Jun.) South Africa’s manufacturing PMI rose to 51.4 last month, providing another signal that the economy picked up a little in the second quarter. 1st July 2015 · 1 min read
Africa Data Response South Africa Mining & Manufacturing Output (Apr.) Mining and manufacturing output figures released today showed that growth remained weak in two key sectors of the South African economy. And the spectre of wage disputes suggests that the mining... 11th June 2015 · 1 min read
Africa Data Response South Africa Manufacturing PMI (May) May’s South African manufacturing PMI reading of 50.8 was a rare piece of positive news for the country, which has seen a run of dispiriting economic figures. Even so, this figure is consistent with a... 1st June 2015 · 1 min read
Africa Data Response South Africa GDP (Q1) Q1 GDP figures released today showing that economic growth in South Africa plummeted to 1.3% quarter on quarter at a seasonally adjusted annualised rate are very bad news. Several temporary factors... 26th May 2015 · 1 min read
Africa Data Response South Africa Consumer Prices (Apr.) Inflation in South Africa rose to 4.5% in April, and we expect that it will continue to rise over the coming months. Accelerating inflation will put pressure on the Reserve Bank to raise interest... 20th May 2015 · 1 min read
