Africa Data Response Nigeria Consumer Prices (Oct.) The rise in Nigerian inflation in October, to 14.2% y/y, will probably prevent policymakers from continuing their easing cycle next week. But we think that further cuts lie in store in early 2021. 16th November 2020 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Oct.) The rise in South Africa’s manufacturing PMI in October was distorted by a pick-up in supplier delivery times and, if anything, the survey suggests that the recovery continued to lose steam at the... 2nd November 2020 · 2 mins read
Africa Data Response South Africa Consumer Prices (Sep.) The small drop in South African inflation, to 3.0% y/y in September, won’t be sufficient to prompt policymakers to resume their easing cycle. Equally, it reinforces the idea that price pressures are... 28th October 2020 · 2 mins read
Africa Data Response Nigeria CPI (Sep.) The increase in Nigerian inflation in September, to 13.7% y/y, will probably be followed by similarly high inflation readings in the coming months. The central bank is likely to keep its benchmark... 15th October 2020 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Sep.) The rise in in South Africa’s manufacturing PMI in September suggests that further easing of the country’s lockdown measures has boosted activity. But there remain many obstacles to a sustained... 1st October 2020 · 2 mins read
Africa Data Response South Africa Consumer Prices (Aug.) The slight fall in South African inflation, to 3.1% y/y in August, is likely to be followed by subdued inflation rates over the next few months. Even so, the SARB’s easing cycle has now come to an end... 30th September 2020 · 2 mins read
Africa Data Response Nigeria CPI (Aug.) The increase in Nigerian inflation in August, to 13.2% y/y, will probably stay the hand of policymakers at next week’s MPC meeting. But, with a weak economic recovery, there may still be scope for an... 15th September 2020 · 2 mins read
Africa Data Response South Africa GDP (Q2) The huge fall in South Africa’s GDP in Q2 confirms our pessimistic outlook for the economy and, with fiscal austerity on the horizon, the recovery will be weak. Policymakers at the central bank will... 8th September 2020 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Aug.) The jump in South Africa’s manufacturing PMI in August confirms that the sector was boosted as the country eased lockdown restrictions further. But with power cuts becoming a problem once again and... 1st September 2020 · 2 mins read
Africa Data Response South Africa Consumer Prices (Jul.) South African inflation will probably hover near July’s reading, of 3.2% y/y, in the coming months and, as the economic recovery wavers, we think that more monetary easing lies in store. 26th August 2020 · 2 mins read
Africa Data Response Nigeria GDP (Q2 2020) Nigeria’s GDP nose-dived in Q2 and we think the recovery will be held back by continuing oil production cuts, losses in employment and income and limited fiscal stimulus. 24th August 2020 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Jul.) The drop in South Africa’s manufacturing PMI provided the first strong signal that the sector’s rebound has stalled in recent weeks. With the authorities struggling to bring the virus under control... 3rd August 2020 · 2 mins read
Africa Data Response South Africa Consumer Prices (Jun.) South African inflation edged up to 2.2% y/y in June and, while it will rise further over the coming months, it is likely to stay close to the lower bound of the central bank’s (SARB’s) target range... 29th July 2020 · 3 mins read
Africa Data Response South Africa CPI (May) South African inflation plunged to 2.1% y/y in May, which probably takes it near the trough. But even as price pressures start to pick up, the headline rate will remain very subdued, allowing the... 15th July 2020 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Jun.) South Africa’s manufacturing PMI reading offered mixed messages once again in June, but the business activity component suggests that activity in the sector continued to recover from April’s... 1st July 2020 · 2 mins read
Africa Data Response South Africa GDP (Q1) The fall in South Africa’s GDP in Q1 provides an early sign of the massive economic hit from the country’s severe lockdown measures and supports our view that further interest rate cuts lie in store. 30th June 2020 · 2 mins read