South African flag. Picture: GALLO IMAGES/LISA HNATOWICZ
South African flag. Picture: GALLO IMAGES/LISA HNATOWICZ

Monday:

• Credit extension growth for June: This is expected to remain muted, after a business-led slowdown in May, although higher vehicle sales in June offer hope for an uptick in consumer lending.

Tuesday:

• Quarterly labour force survey for the second quarter: the unemployment rate is not expected to have improved from 26.7% in the first quarter.

• Trade balance for June: A somewhat larger surplus is expected, after a R3.5bn surplus in May, as June is usually a good month. This could support the rand.

Wednesday:

• Land hearings draw to a close: Hearings on whether a constitutional change is needed to enable expropriation without compensation take place in Oudtshoorn, Beaufort West and Cape Town, from Wednesday.

• Absa’s manufacturing PMI: the purchasing managers index for the sector is not expected to have changed much from June’s 47.9, which below the key 50-point level.

• New vehicle sales growth for July: downward pressure comes from higher fuel prices and other burdens on consumers, while support comes from above-inflation wage settlements and competitive pricing in the sector.

Thursday:

• SABS updates MPs on forensic investigation: Parliament’s portfolio committee on trade and industry holds a follow-up meeting with the South African Bureau of Standards, for a progress report on the probe, which includes the SABS-issued certificate for substandard coal from the Gupta-owned Brakfontein Mine.

Saturday:

• Closing arguments in audit watchdog Irba’s inquiry into Gupta-owned Linkway Trading, as part of its investigation of audit firm KPMG.

For more on these and other events, see the Economic Week Ahead. 

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