Africa Data Response Nigeria Consumer Prices (Jan.) Inflation in Nigeria was unchanged at 15.6% y/y in January and the headline rate will probably soften only gradually. At this point, however, policymakers are unlikely to hike interest rates in... 15th February 2022 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Jan.) South Africa’s manufacturing PMI rebounded last month from the slump in activity on the back of the Omicron wave, but headwinds facing the sector and the wider economy will keep the recovery subdued. 1st February 2022 · 2 mins read
Africa Data Response South Africa Activity Data (Nov.) November’s hard activity data suggest that South Africa’s economy performed strongly in the middle of Q4 and the early evidence is that the latest Omicron-driven virus wave inflicted only minimal... 19th January 2022 · 2 mins read
Africa Data Response South Africa Consumer Prices (Dec.) South Africa’s inflation rate rose to a stronger-than-expected 5.9% y/y in December, probably tilting the Reserve Bank more in favour of continuing to tighten monetary policy. But with soft core price... 19th January 2022 · 2 mins read
Africa Data Response Nigeria Consumer Prices (Dec.) The surprise rise in inflation in Nigeria, to 15.6% y/y in December, will more likely than not prove to be a blip. We don’t think that policymakers will rush to raise interest rates in response. 17th January 2022 · 2 mins read
Africa Data Response South Africa Consumer Prices (Nov.) South Africa’s headline inflation rate rose to a slightly stronger-than-expected 5.5% y/y in November but, with core price pressures remaining soft and the economy struggling even before the latest... 15th December 2021 · 3 mins read
Africa Data Response South Africa Activity Data (Oct.) South Africa’s hard activity data for October confirm that the economy was struggling even before the emergence of a fourth virus wave, which will probably dampen activity further. In light of this... 9th December 2021 · 2 mins read
Africa Data Response South Africa GDP (Q3) South Africa’s GDP contracted by 1.5% q/q in Q3 as violent unrest and a third virus wave hit the economy hard, and the more recent data suggest that activity remained depressed even before the latest... 7th December 2021 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Nov.) South Africa’s manufacturing PMI rebounded last month, but the emerging fourth virus wave and the threat from the Omicron variant has clouded the outlook for activity in the sector and the wider... 1st December 2021 · 2 mins read
Africa Data Response Nigeria GDP (Q3) The drop in Nigeria’s GDP growth to 4.0% y/y in Q3 points to the recovery in activity outside the key oil sector petering out. We think this will continue over the coming quarters, weighing on... 18th November 2021 · 2 mins read
Africa Data Response South Africa Activity Data (Sep.) South Africa’s hard activity data for September point to output continuing to rebound in the sectors hardest hit by violent unrest in July. But the economy probably still contracted over Q3 as a whole... 17th November 2021 · 3 mins read
Africa Data Response South Africa Consumer Prices (Oct.) South Africa’s headline inflation rate stayed at 5.0% y/y in October, with underlying price pressures remaining soft. That, combined with the fragile economic recovery, supports our view that the... 17th November 2021 · 2 mins read
Africa Data Response Nigeria Consumer Prices (Oct.) The fall in the headline inflation rate in Nigeria to 16.0% y/y in October will bolster the case for policymakers to keep their benchmark interest rate on hold in order to support the economic... 15th November 2021 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Oct.) South Africa’s manufacturing PMI dropped back last month, pointing to a further slowdown in the sector’s already weak recovery. Persistent headwinds will probably keep manufacturing activity subdued. 2nd November 2021 · 2 mins read
Africa Data Response South Africa Consumer Prices (Sep.) Although South Africa’s headline inflation rate picked up to 5.0% y/y in September, soft underlying price pressures and a fragile economic recovery mean that policymakers will only normalise monetary... 20th October 2021 · 2 mins read
Africa Data Response Nigeria Consumer Prices (Sep.) The drop in the headline inflation rate in Nigeria, to 16.6% y/y in September, will ease pressure on the central bank to raise rates and allow policymakers to focus on supporting the economic recovery... 15th October 2021 · 2 mins read
