A host of important economic data due out this week, including the private sector’s appetite for credit, new cars and other imports, will help reveal whether SA’s economic recovery is gaining momentum. The first notable release, on Wednesday, will be private sector credit extension (PSCE) figures for April. These will provide some insight as to whether growing consumer confidence is translating into actual demand for credit. If so, greater consumer spending should follow, which would bode well for GDP growth. So far in 2018, a more favourable economic environment, including higher confidence levels as a result of greater political and policy certainty, has aided private sector lending growth, notes Investec economist Laura Hodes. She is expecting PSCE to have risen to 6.01% year on year in April, up from 5.9% in March and 5.7% in February. First National Bank chief economist Mamello Matikinca also expects PSCE to post another mild acceleration as demand from corporates and household...
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