Africa Data Response Nigeria GDP (Q2) The pick-up in Nigeria’s headline GDP growth to 5.0% y/y in Q2 was largely reflective of favourable base effects created by the sharp downturn a year ago. It appears that the underlying pace of growth... 26th August 2021 · 2 mins read
Africa Data Response South Africa Consumer Prices (Jul.) South Africa’s headline inflation rate eased in July, to 4.6% y/y, as fears that recent violent unrest would fuel inflation pressures proved to be overdone. Underlying price pressures remain soft and... 18th August 2021 · 2 mins read
Africa Data Response Nigeria Consumer Prices (Jul.) Policymakers will probably take comfort in the latest fall in Nigeria’s headline inflation rate, to 17.4% y/y in July, even as price pressures mount in major price categories outside of food. Interest... 17th August 2021 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Jul.) South Africa’s manufacturing PMI tanked in July as activity was hit by violent unrest and tighter virus containment measures. And while activity is likely to rebound this month, South Africa’s... 2nd August 2021 · 2 mins read
Africa Data Response South Africa Consumer Prices (Jun.) South Africa’s headline inflation rate eased in June, to 4.9% y/y, and with soft underlying price pressures and clouds over the economic recovery, the Reserve Bank will stand pat at tomorrow’s MPC... 21st July 2021 · 2 mins read
Africa Data Response Nigeria Consumer Prices (Jun.) The latest drop in Nigeria’s headline inflation rate, to 17.8% y/y in June, is likely to reassure policymakers that price pressures are softening and that policy tightening is not necessary to curb... 16th July 2021 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Jun.) South Africa’s manufacturing PMI edged down in June but it remained strong given the context of a severe third wave of COVID-19 and we think that the further tightening of restrictions announced on... 1st July 2021 · 2 mins read
Africa Data Response South Africa Consumer Prices (May) Although South Africa’s headline inflation rate jumped to a multi-year high of 5.2% y/y last month, the weakness of core inflation and the recent tightening of lockdown measures means that the Reserve... 23rd June 2021 · 2 mins read
Africa Data Response Nigeria Consumer Prices (May) The second consecutive drop in Nigeria’s headline inflation rate, to 17.9% y/y in May, will probably go some way towards easing policymakers’ recent concerns about high and rising inflation. While we... 15th June 2021 · 2 mins read
Africa Data Response South Africa GDP (Q1) South Africa’s economy weathered a second virus wave relatively well, but with cases rising again and other headwinds hanging over the outlook, the recent strength of the recovery is unlikely to last. 8th June 2021 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (May) The rise in South Africa’s manufacturing PMI in May points to an improvement in underlying economic conditions in the sector, but we think that the recovery will be held back by key headwinds... 1st June 2021 · 2 mins read
Africa Data Response South Africa Consumer Prices (Apr.) The jump in South Africa’s headline inflation in April, to 4.4% y/y, was driven by energy price effects but there were signs that broader price pressures are starting to build. But even so, we think... 19th May 2021 · 3 mins read
Africa Data Response Nigeria Consumer Prices (Apr.) The slight drop in Nigeria’s headline inflation rate, to 18.1% y/y in April, on the back of easing food price pressures will provide some ammunition to the doves on the MPC and means that it is... 17th May 2021 · 2 mins read
Africa Data Response South Africa Consumer Prices (Mar.) South Africa’s headline inflation rate crept up to 3.2% y/y in March but this was almost entirely due to energy price effects that will become more pronounced this quarter. In contrast, underlying... 21st April 2021 · 2 mins read
Africa Data Response Nigeria Consumer Prices (Mar.) The latest jump in Nigerian inflation, to 18.2% y/y in March, will probably reinforce the views of the hawkish minority on the central bank’s MPC. Our base case is that the majority of MPC members... 15th April 2021 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Mar.) The sharp rise in South Africa’s manufacturing PMI in March suggests that the sector bounced back quickly as virus containment measures were eased. But the recovery will continue to be held back by a... 1st April 2021 · 2 mins read