ECONOMIC WEEK AHEAD: Market to keep tabs on confidence, producer inflation
Consumer confidence and the producer price index (PPI) will be the main focus this week. Both are likely to have improved in line with the firming economic climate. A string of second-tier data will be released on Monday, including tourist accommodation, land transport volumes, food and beverage sales for February, as well as liquidation and insolvency statistics for March. The Reserves Bank’s leading indicator comes out on Tuesday. On Wednesday the First National Bank/Bureau for Economic Research consumer confidence index for the first quarter will be released. Given SA’s improved economic outlook since President Cyril Ramaphosa took office, coupled with Moody’s Investors Service’s affirmation of the country’s credit rating and the 25 basis point interest rate reduction in March, the expectation is the index will have climbed from the low level of -8 index points exhibited in the final quarter of 2017. FNB chief economist Mamello Matikinca expects the consumer confidence index to s...
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