ECONOMIC WEEK AHEAD: Low growth set to weigh on inflation and jobs data
Strike at Sibanye-Stillwater and disruptions at a large iron ore producer are likely to affect the mining numbers, says economist
SA’s inflation and employment data will attract the most attention this week, with both expected to be lacklustre, in line with the prevailing low-growth environment. Stats SA will release third-quarter employment statistics on Tuesday. The economy shed 69,000 non-farm jobs in the second quarter, a decrease in employment of 0.7% quarter to quarter. But the strong rebound in real GDP growth to 2.2% quarter to quarter in the third quarter fuels hope that employment growth might have ticked upwards. Even so, any gains are likely to be muted, as business confidence surveys show most firms continue to experience downward pressure on their payrolls. Also scheduled for release on Tuesday are mining and manufacturing production updates for October. “The performance of both sectors has been affected by softening global economic activity and international trade tensions, reflected in both weaker demand and commodity prices,” said Investec economist Kamilla Kaplan. Kaplan expects manufacturing...
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