It’s a quiet week on the economic front, with the Brics summit attracting much of the attention. This may be a crucial pillar for President Cyril Ramaphosa to achieve his ambitious $100bn investment target over the next five years. SA’s largest export destination is China, with India, Brazil and Russia all being significant partners. On Tuesday Finance Minister Nhlanhla Nene will open a conference in Sandton on SA’s key finance priorities for the Brics summit. There is a slew of second-tier economic data expected in the week. On Monday Statistics SA will release May tourism, migration and accommodation figures, along with mid-year population estimates, the land transport survey, food and beverage sales and statistics on liquidations and insolvencies. On Thursday Stats SA will release the June producer price index (PPI) and construction materials price index. The PPI figures often follow the same trajectory as the consumer price index numbers.

The PPI for final manufactured goo...

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