Africa Data Response South Africa Manufacturing PMI (May) The fall in the South African manufacturing PMI in May leaves it at a level consistent with modest falls in output in the sector. And the collapse in the future conditions component suggests that... 1st June 2023 · 2 mins read
Africa Economics Rapid Response Nigeria GDP (Q1) Nigeria’s economic growth slowed to just 2.3% y/y in Q1 as the damaging effects of a botched demonetisation process more than offset an easing of the drag from the oil sector. With the rise in oil... 24th May 2023 · 3 mins read
Africa Economics Rapid Response South Africa Consumer Prices (Apr.) South Africa’s headline inflation rate dropped back to 6.8% y/y in April but the further strengthening of core inflation will alarm Reserve Bank officials about the impact of loadshedding on price... 24th May 2023 · 2 mins read
Africa Data Response South Africa Activity Data (Mar.) March’s activity data out of South Africa suggest that the economy is likely to have skirted a technical recession, but the outlook is bleak as the intensification of power cuts weighs on activity and... 17th May 2023 · 3 mins read
Africa Data Response South Africa Manufacturing PMI (Apr.) The rise in South Africa’s manufacturing PMI last month was due to a jump in inventories, while other indicators pointed to further weakness in the sector. The country’s severe energy crisis continued... 2nd May 2023 · 2 mins read
Africa Data Response South Africa Activity Data (Feb.) February’s weak hard activity figures out of South Africa suggest that stronger data from January were a blip and, following a contraction in GDP in Q4, increase the chances that the economy has... 19th April 2023 · 3 mins read
Africa Data Response South Africa Consumer Prices (Mar.) South Africa’s headline inflation reading for March came in stronger than expected, at 7.1% y/y, and core inflation remains uncomfortably high for policymakers at the Reserve Bank. With persistent... 19th April 2023 · 3 mins read
Africa Data Response South Africa Manufacturing PMI (Mar.) The fall in South Africa’s manufacturing PMI last month paints a downbeat picture of a sector unable to escape from a severe energy crisis. The figures are consistent with manufacturing output... 3rd April 2023 · 2 mins read
Africa Data Response South Africa Consumer Prices (Feb.) The rise in South Africa’s headline inflation rate, to 7.0% y/y, in February may be a sign that the intensification of loadshedding in recent months is fuelling price pressures. So long as renewed... 22nd March 2023 · 3 mins read
Africa Data Response South Africa Activity Data (Jan.) & Nigeria CPI (Feb.) January’s hard activity figures out of South Africa came in stronger than expected, reducing the chances of a technical recession. But momentum remains extremely weak. Elsewhere, the rise in inflation... 15th March 2023 · 3 mins read
Africa Data Response South Africa GDP (Q4) South Africa’s GDP fell by a sharper-than-expected 1.3% q/q in Q4, and the broad-based weakness in economic activity is unlikely to improve any time soon as severe power cuts and fiscal consolidation... 7th March 2023 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Feb.) The sharp fall in South Africa’s manufacturing PMI last month provides further signs that the country’s electricity crisis is taking a heavy toll on the economy. And the jump in the prices component... 1st March 2023 · 2 mins read
Africa Data Response Nigeria GDP (Q4) Nigeria’s economy recorded a surprisingly large pick-up in GDP growth, to 3.5% y/y, in Q4 but recent disruptions caused by the demonetisation process are likely to have dampened growth at the start of... 22nd February 2023 · 3 mins read
Africa Data Response South Africa Activity Data (Dec.) & Nigeria CPI (Jan.) December’s hard activity figures out of South Africa point to a mild contraction in GDP in Q4 and indicate that weakness in the economy is spreading beyond industrial sectors. Elsewhere, the pick-up... 15th February 2023 · 3 mins read
Africa Data Response South Africa Consumer Prices (Jan.) Inflation in South Africa continued to decline, to 6.9% y/y in January, but we think that the Reserve Bank will err on the side of delivering a final 25bp rate hike to (7.50%) at the next policy... 15th February 2023 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Jan.) South Africa’s manufacturing PMI remained essentially unchanged, at 53.0, in January, but while the breakdown provided mixed messages, we think that the underlying picture for the manufacturing... 1st February 2023 · 3 mins read
