ECONOMIC WEEK AHEAD: Few bright spots to lift the economy
Key data are likely to reflect global and domestic slowdowns
Economists are braced for a slew of uninspiring economic data as global growth continues to slow and SA’s domestic recovery struggles to find momentum. First up on Tuesday will be the SA Reserve Bank leading indicator for December. The indicator has been on a downward spiral since July 2018, last registering a 0.1% year-on-year decline in November. “We expect another dreary reading in the December print, which will continue to be reflective of a challenging economic environment,” says First National Bank chief economist Mamello Matikinca. SA’s January trade balance will be released on Wednesday. Investec economist Kamilla Kaplan is forecasting a sizeable deficit of R14.2bn. She says a deficit is typically incurred in January as companies look to replenish inventory levels after the festive season, while exports typically decline. Since 2011 the January trade balance has consistently recorded a deficit. However, the significant decline in international oil prices at the start of the ...
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