Tag Archiveseconomics


Robust retail sales to lift GDP

By Jason Muscat, FNB Senior Economic Analyst. December retail trade sales far exceeded our expectations, rising 5.3% y/y, but down -2.6% m/m on a seasonally adjusted basis. General dealers, clothing and “other retailers each added 1.4 pps (4.2 pps cumulatively), jumping 3.3% y/y, 5.9% and 14.7% respectively. In what may be tentative signs of a […]

Read full story

Absa Purchasing Managers’ Index  rises in January

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose to 49.9 index points in January, the Bureau for Economic Research (BER) said today.  This is the best reading since May 2017 and the 5-point rise more than makes up for the 3.7-point slump experienced in December. The January PMI suggests that the local manufacturing sector […]

Read full story
Cyril Ramaphosa (pic: Russell Roberts)

ANC voters want Ramaphosa and ‘pro-business’ policies – IRR report

The latest @Liberty report from the Institute of Race Relations (IRR) – “Ramaphosa and the Strange Workings of ANC Democracy” – provides an “unrivalled picture of the country’s mood on the cusp of a great change”. Based on a large opinion survey carried out late last year, the report suggests that South Africans are moderate […]

Read full story
Increasing Sales

Black Friday bonanza for November retail sales

By Jason Muscat, FNB Senior Economic Analyst November retail trade sales surpassed even our bullish expectations, registering 8.2% y/y from an upwardly revised 3.5% in October. This was the strongest year-on-year performance in five years. (more…)

Read full story

GDP surprises with 2% expansion

By Jason Muscat, FNB Senior Economic Analyst. 3Q17 GDP expanded by a robust 2% q/q, ahead of consensus forecasts, but below our bullish call. 2Q17 GDP was upwardly revised to 2.8% q/q from 2.5. Growth was almost entirely driven by the agriculture, mining and manufacturing sectors, which expanded by 44.2% q/q, 6.6% and 4.3% respectively, […]

Read full story
Izak Odendaal

A November to remember

By Dave Mohr (Chief Investment Strategist) & Izak Odendaal (Investment Strategist), Old Mutual Multi-Managers. Global equity returns are on track for a strong year. The MSCI All Countries World Index (Acwi), a broad index of developed and emerging market stocks, returned 1.98% in November to end the month at a record high level. With one […]

Read full story
Former SA President, Jacob Zuma and ex-Finance Minister, Pravin Gordhan

Political awareness an imperative for professional financial advice

A deep awareness of the South African political landscape is important to financial planners due to its effect on the domestic economy and the knock-on impact on business and consumer confidence and investment returns. (more…)

Read full story
Ben Bierman, MD of Business Partners Limited

SA’s growth engines feeling the weight of economic strain

Business confidence indicators plummeted further in the second quarter of this year as the South African macroeconomic environment remained dire, resulting in increased pressure on small and medium enterprises (SMEs) and their ability to deliver as one of South Africa’s leading growth engines. (more…)

Read full story