Africa Data Response Nigeria GDP (Q1) Nigeria’s GDP growth slowed to 3.1% y/y in Q1 as robust growth in the non-oil sector was more than offset by a slump in the oil sector. Looser fiscal policy ahead of elections in early 2023 will... 23rd May 2022 · 3 mins read
Africa Data Response South Africa Activity Data (Mar.) South Africa’s activity data for March were weak and that was even before flooding in KwaZulu-Natal province dealt a fresh blow to the economy. Inflation figures released earlier today may have... 18th May 2022 · 3 mins read
Africa Data Response South Africa Consumer Prices (Apr.) South Africa’s headline inflation rate remained close to the upper bound of the Reserve Bank’s 3-6% target range in April, at 5.9% y/y, and will stay there over the coming months. Tomorrow’s interest... 18th May 2022 · 3 mins read
Africa Data Response Nigeria Consumer Prices (Apr.) Inflation in Nigeria jumped to 16.8% y/y last month and the headline rate is likely to rise further as spillovers from the war in Ukraine filter through. Pressure to tighten monetary policy is... 16th May 2022 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Apr.) The plunge in South Africa’s manufacturing PMI in April suggests that there was a large blow to activity from flooding in a key province and renewed power cuts. One consequence of this economic... 3rd May 2022 · 2 mins read
Africa Data Response South Africa Consumer Prices (Mar.) The rise in inflation in South Africa in March, to 5.9% y/y, will keep the Reserve Bank’s tightening cycle going at the next meeting in May. But the weakness of core inflation supports our view that... 20th April 2022 · 2 mins read
Africa Data Response South Africa Activity Data (Feb.) South Africa’s hard activity data for February were a stark contrast to the recent upbeat surveys as output dropped back in the mining, manufacturing and retail sectors. Electricity problems, fiscal... 14th April 2022 · 3 mins read
Africa Data Response South Africa Manufacturing PMI (Mar.) The further rise in South Africa’s manufacturing PMI in March to a record high provides further evidence that the economy has rebounded strongly from the Omicron-driven dip in activity at the end of... 1st April 2022 · 2 mins read
Africa Data Response South Africa Consumer Prices (Feb.) South Africa’s headline inflation rate was unchanged at 5.7% y/y in February but, with the war in Ukraine increasing upside inflation risks and signs that the economic recovery has been robust... 23rd March 2022 · 3 mins read
Africa Data Response South Africa Activity Data (Jan.) January’s hard activity data show that South Africa’s recovery gained ground following the Omicron virus wave. Taken together with more timely figures that point to a continued rebound in activity and... 16th March 2022 · 2 mins read
Africa Data Response Nigeria Consumer Prices (Feb.) The small rise in Nigeria’s headline inflation rate to 15.7% y/y last month provides further evidence that draconian foreign exchange policies are causing shortages and fuelling price pressures. There... 15th March 2022 · 3 mins read
Africa Data Response South Africa GDP (Q4) South Africa posted decent GDP growth of 1.2% q/q in Q4, shrugging off the Omicron virus wave. While elevated commodity prices will support the economy over the coming months, growth is likely to slow... 8th March 2022 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Feb.) The rise in South Africa’s manufacturing PMI in February suggests that the rebound in the sector picked up pace. But headwinds facing the industry and the wider economy mean this strength is unlikely... 1st March 2022 · 2 mins read
Africa Data Response Nigeria GDP (Q4) Nigeria’s GDP growth was unchanged at 4.0% y/y in Q4 as a slightly smaller drag from the oil sector was offset by a weaker performance in the non-oil economy. But we think that growth will drop back... 17th February 2022 · 2 mins read
Africa Data Response South Africa Activity Data (Dec.) December’s hard activity data show that South Africa’s economy held up well in the face of the Omicron virus wave. GDP probably expanded by around 0.9% q/q in Q4, implying growth of 4.6% over 2021 as... 16th February 2022 · 3 mins read
Africa Data Response South Africa Consumer Prices (Jan.) South Africa’s headline inflation rate edged down to 5.7% y/y in January, and with soft core inflation and a bumpy economic recovery, the monetary tightening cycle is likely to be more gradual than... 16th February 2022 · 2 mins read
