Africa Rapid Response South Africa GDP (Q2 2024) South Africa’s economy recorded weaker-than-expected growth of 0.4% q/q in Q2 which, coming alongside the easing of inflation pressures, further strengthens the case for an interest rate cut at the... 3rd September 2024 · 2 mins read
Africa Rapid Response South Africa Manufacturing PMI (Aug.) The sharp fall in South Africa’s manufacturing PMI in August was disappointing but the survey has been extremely volatile recently and the big picture is that respondents remained optimistic about the... 2nd September 2024 · 2 mins read
Africa Data Response Nigeria Consumer Prices (Jul. '24) Nigeria’s headline inflation rate eased to 33.4% in July, the first time it had slowed in 18 months, as the passthrough from previous naira falls has finally started to faded. With inflation having... 15th August 2024 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Jul.) South Africa’s manufacturing PMI jumped in July, suggesting that improving electricity supply conditions and reduced political uncertainty are starting to support activity. While the economy may... 1st August 2024 · 2 mins read
Africa Data Response South Africa Consumer Prices (Jun.) South Africa’s headline inflation rate edged down to 5.1% y/y in June and with core inflation returning to the mid-point of the SARB’s 3-6% target range, we think the SARB will be in position to... 24th July 2024 · 2 mins read
Africa Data Response Nigeria Consumer Prices (Jun.) Nigeria’s headline inflation rate edged up to 34.2% y/y in June on the back of the pass-through from previous naira falls. But we think this marks the peak and inflation should start to decline. If... 15th July 2024 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (Jun.) South Africa’s manufacturing PMI remained weak in June but improving electricity supply conditions and reduced political uncertainty should support a modest pick-up in activity. That said, the economy... 1st July 2024 · 2 mins read
Africa Data Response South Africa Consumer Prices (May.) South Africa’s headline inflation rate was unchanged at 5.2% y/y in May and, while still some way off the 4.5% mid-point of the SARB’s target range, the formation of a government of national unity... 19th June 2024 · 2 mins read
Africa Data Response South Africa GDP (Q1 2024) South Africa’s economy contracted by 0.1% q/q in the first quarter of the year and the latest evidence suggests that fragility has continued into Q2. A less acute drag from loadshedding should support... 4th June 2024 · 2 mins read
Africa Data Response South Africa Manufacturing PMI (May.) South Africa’s manufacturing PMI plummeted in May and, while we expect conditions to improve as the electricity situation continues to stabilise, alongside recent activity data it underlines the... 3rd June 2024 · 2 mins read
Africa Rapid Response South Africa Interest Rate Announcement (May) The South African Reserve Bank’s decision to leave the repo rate unchanged at 8.25% was never in doubt. Governor Kganyago said as little about the election as was possible, but the MPC will be... 30th May 2024 · 2 mins read
Africa Rapid Response South Africa’s Election The early results from South Africa’s election which took place yesterday point to the ruling ANC securing a vote share closer to the low end of projections (at just over 40%), increasing the chances... 30th May 2024 · 3 mins read
Africa Data Response Nigeria GDP (Q1 2024) Nigeria’s GDP growth slowed to 3.0% y/y in Q1, driven by a halving in the oil sector growth rate, alongside high inflation and tighter monetary conditions continuing to drag on the non-oil economy. We... 24th May 2024 · 2 mins read
