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 co...
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