Economic Week Ahead
ECONOMIC WEEK AHEAD: SA braces for more poor data
Stats SA releases mining and manufacturing figures, but these are expected to be weak
SA is braced for poor mining and manufacturing data this week, following the recent release of deteriorating unemployment and weaker manufacturing purchasing managers’ data. Stats SA will release mining and manufacturing production and sales figures for September on Thursday. This will complete the third-quarter data for these industries, giving economists a better indication of how the economy as a whole performed during the quarter. In the first and second quarters, real GDP contracted, tipping the economy into its first recession since the global financial crisis. The Reuters consensus is that the economy recovered to grow at 1.5% in the third quarter and will continue accelerating to 2.1% in the final quarter, taking whole-year growth to 0.8%. But the Absa manufacturing purchasing managers’ index (PMI) for October has raised fresh concerns about the economy after it dipped for the third consecutive month to a nine-year low of just 42.4 index points, from 44.5 previously.
T...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.