ECONOMIC WEEK AHEAD: New vehicle sales and Absa PMI will be in focus
The Federal Reserve is expected to continue tightening, putting more pressure on the rand
01 May 2023 - 17:57
New vehicle sales and the Absa purchasing managers’ index (PMI) will come under the spotlight on Tuesday while global developments will guide SA markets for the rest of the week.
Domestic sales of new vehicles largely held up in the first quarter despite the deteriorating economic outlook, resulting partly from the electricity crisis. The post-Covid world has benefited the sector immensely, but the impact of the cumulative increases in interest rates could hurt spending on big-ticket items. ..
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