ACTIVITY in manufacturing slowed slightly this month while the deficit on the trade balance narrowed in August, data out this week are expected to show.The trade balance, the difference between imports and exports, recorded a R12bn deficit, a BDlive median consensus forecast of seven surveyed economists showed.A slow recovery in global demand, strong growth in imports and slower growth in exports are among factors that have kept the trade balance in deficit this year."We believe that import growth will continue to outpace export growth, thereby delivering another large trade deficit," Absa Capital economists commented in a research note.Although not market-moving, credit extension figures to be released by the Reserve Bank on Monday will be important for assessing the appetite for credit by households and companies.The pace of growth in credit extended to households and companies is expected to have moderated slightly in August, according to the BDlive forecast.Credit extension is e...

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