ECONOMIC WEEK AHEAD: Gigaba’s speech will continue to resound
Statistics SA’s third-quarter Quarterly Labour Force Survey will be closely watched
More scrutiny of Finance Minister Malusi Gigaba’s maiden medium-term budget policy statement is expected this week as the market reacts to the minister’s candid speech. On Monday, the Reserve Bank will release September’s figures on the M3 money supply and credit extension. Investec economist Kamilla Kaplan said: "The weak economic growth climate and depressed confidence levels have impacted private sector lending growth. Credit conditions applied by retail banks remain relatively tight and the prospect of interest rate increases will [be] likely [to] impact the demand for credit." Kaplan forecast private sector lending had dropped to 5.2% year on year from 6%. On Tuesday, Statistics SA will release the third-quarter Quarterly Labour Force Survey, while the South African Revenue Service will release the September trade balance. First National Bank economist Mamello Matikinca said: "We are less optimistic about the third-quarter employment figures. "We expect that the second-quarter ...
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