ECONOMIC WEEK AHEAD: Reweighted inflation data to make debut
Release of unemployment, consumer inflation and retail sales figures this week will likely show the South African economy is still struggling to gain ground
The unemployment figures, consumer inflation and retail sales data to be released this week are likely to be dismal, reinforcing the sense that the South African economy is battling to climb out of its current trough. On Tuesday, Statistics SA will release its quarterly household Labour Force survey for the fourth quarter of 2016. Economists are not expecting much deviation in the unemployment rate which rose to a record high of 27.1% in the third quarter of 2016 from 26.6% in the second quarter. BNP Paribas Securities economist Jeffrey Schultz feels meaningful gains in the labour market are most unlikely given the persistent weakness in the economy, particularly in the manufacturing and mining sectors. "There is likely, however, to have been a seasonal uptick in employment in the trade sector owing to spikes in temporary employment throughout the festive season in the retail and hotel and restaurant trade," he said. On Wednesday, Stats SA will publish the consumer inflation rate fo...
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