The rand — along with mining and manufacturing production and sales figures — will probably be one of the more closely watched aspects of economic data this week. Emerging-market currencies including the rand came under pressure last week amid global concern about a brewing trade war between the US and China. The local currency touched its lowest level against the dollar in two weeks, breaking through the R12/$ mark on Friday. A trade war could compromise improvements in global growth and demand for commodity exports, with knock-on effects for the mining and manufacturing sectors. Economists are divided in their forecasts for production in these sectors in February. Official manufacturing statistics will be published on Tuesday and mining data will be released on Thursday. Investec economist Lara Hodes, who is forecasting 3.2% year-on-year growth in February, said a dip in sales orders and business activity subindices of the Absa purchasing managers’ index (PMI) in March was worryin...
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