Mining and manufacturing figures expected on Thursday should provide some indication of how the economy performed in the first quarter of 2018. Based on data so far for January and February, both sectors are expected to weigh down economic growth for the first quarter, based on weak performances. Unless the two sectors experience a surprise jump in growth in March, the data on Thursday will paint a more realistic picture of how much these sectors will take from economic growth. FNB chief economist Mamello Matikinca said a resolution of the uncertainties surrounding the Mining Charter, which is expected to be finalised at the end of May, would be an additional boost for the sector, although the industry remains very vulnerable to changing demand patterns. Of concern, she added, was the US-imposed tariff hike on Chinese steel imports — as part of President Donald Trump’s trade war — which has the potential to blunt demand for domestic iron ore, which makes up 15% of mining output. Man...
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