The slump in the South African manufacturing PMI provided some worrying signs that the rebound seen in the Q2 GDP figures didn’t last. But the PMI appears to be an outlier; other survey data paint a more positive picture and support our view that the economy will gather momentum in the coming quarters. Meanwhile, the Forum on China-Africa Cooperation (FOCAC) has led to a raft of pledges from China to strengthen ties with the continent. But China is also facing greater pressure from African policymakers around the need for investment to help the region’s economies move up the value chain.
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