Metals Data Response South Africa’s Mine Production (Jun.) Although the latest data show stronger output in the South African PGM sector in June, the risk of strike action has risen in the last month and the potential for further power disruption remains. We... 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 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
Precious Metals Update Platinum price to benefit from risk of industrial unrest The slump in platinum prices to the lowest level in over six years has forced South Africa’s mining companies to restructure, leading to job cuts. With the situation between labour unions and miners... 28th July 2015 · 1 min read
Africa Economics Update South Africa finally begins tightening cycle The South African Reserve Bank (SARB) hiked its key interest rate from 5.75% to 6.00% today, judging that the threat of elevated inflation outweighed the risk of choking off already weak growth. The... 23rd 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 Economics Update South Africa: Last growth engine spluttering Today’s retail sales figures confirm that consumer spending growth in South Africa is faltering, weakening the one sector that has propped up growth so far in 2015. This supports our below-consensus... 15th July 2015 · 1 min read
Metals Data Response South Africa’s Mine Production (May) After a strong start to the year, South Africa’s platinum group metals (PGM) production fell substantially in May. This underpins our view that continued power disruptions, coupled with an increased... 9th 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 Economics Update South Africa dodges power price hike, but crisis will linger South Africa’s energy regulator has rejected a proposed hike to electricity prices, sparing South Africa’s overstretched consumers the pain of higher prices. But the decision will only exacerbate the... 29th June 2015 · 1 min read
Metals Watch Weakness in PGM prices should prove temporary Expectations of a strong increase in mine supply,coupled with abundant above-ground stocks,have prompted many analysts to revise down theirforecasts for platinum and palladium prices thisyear and... 29th June 2015 · 1 min read
Africa Economics Update Rising inflation, stronger output suggest rate hike in South Africa Figures released today showed that South Africa’s retail sector has remained surprisingly resilient in the face of power shortages, and rising inflation. A string of relatively strong growth figures... 17th June 2015 · 1 min read
Metals Data Response South Africa’s Mine Production (Apr.) South Africa’s platinum group metals (PGM) production fell slightly m/m in April but has returned to pre-strike levels. While this could adversely impact platinum and palladium prices in the short... 11th June 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
