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/ 28 January 2009
Consumer inflation eased further in December, Stats SA said on Wednesday, raising the chance of a 100 basis points cut in the repo rate next month.
South African petrol pump prices and wholesale diesel prices will rise sharply next week, the government said on Wednesday, adding to inflationary pressures. The Department of Minerals and Energy Affairs said all grades of petrol would on May 7 rise by 55 cents, or 6,2%, to R9,46 a litre in Gauteng.
South Africa’s retail sales growth accelerated to 2,5% year-on-year in February at constant prices, from an upwardly revised 0,7% growth in January, Statistics South Africa said on Wednesday. In the three months to the end of February, retail sales increased by 0,7% over the same period the previous year, also at constant prices.
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/ 29 January 2008
South Africa’s critical electricity crunch has raised doubts over whether infrastructure can keep pace with an economic boom while the country prepares to host the 2010 Soccer World Cup tournament. South Africa is gripped by traumatic power cuts that have brought the mining industry, mainstay of the economy, to a halt.
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/ 10 January 2008
Growth in South Africa’s manufacturing output volumes eased in the year to November, data showed on Thursday, but this might not sway the central bank’s next decision on interest rates later this month. Statistics South Africa said manufacturing output slowed to 4,4% year-on-year in volume from an upwardly revised 5,7% in October.
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/ 5 December 2007
South Africa’s manufacturing output recovered in October to grow an unadjusted 5,2% year-on-year in volume terms, after contracting 1,4% in September, official data showed on Wednesday. Compared with September, manufacturing production rose a seasonally-adjusted 7,2% in October, Statistics South Africa said.
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/ 4 December 2007
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Jacob Zuma is hounded by corruption allegations and his rape trial often overshadows his status as a hero of the anti-apartheid struggle. Yet the burly Zulu politician has shrugged off obstacles that would have crippled others to emerge as favourite to lead the ruling African National Congress.
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/ 30 November 2007
South Africa’s monthly trade deficit jumped to a record R14,73-billion in October, compared to September’s R4,3-billion shortfall, the South African Revenue Service said on Friday. Economists polled by Reuters last week had forecast a deficit of R6,8-billion.
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/ 29 November 2007
The continued strong rises in credit extension provided little counter to the shocking inflation figures released on Wednesday and the chances of an interest-rate hike next week now seemed an almost assured fact, the Efficient Group said on Thursday. This comes after the South African Reserve Bank released both the October monetary aggregates and credit extension figures.
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/ 27 November 2007
South African third-quarter growth rose to an annualised 4,7%, beating forecasts and backing the case for another interest-rate hike. Statistics South Africa on Tuesday said the annualised quarter-on-quarter growth in real gross domestic product (GDP) has increased to 4,7%, compared with a downwardly revised 4,4% in the second quarter of 2007.
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/ 31 October 2007
South Africa recorded a trade deficit of R4,3-billion in September, compared to August’s R9,1-billion shortfall, the South African Revenue Service said on Wednesday. Economists polled by Reuters last week had forecast a deficit of R6,4-billion, but the number is notoriously volatile and hard to predict.
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/ 29 October 2007
Growth in demand for credit from South Africa’s private sector slowed in September, but remained above forecasts, keeping up pressure for higher interest rates. Credit growth eased to 22,46% year-on-year from an upwardly revised 23,16% in August, while money supply growth also eased to 24,94%.
South Africa’s producer price index (PPI) rose by 10,3% year-on-year (y/y) in July from a 10,4% year-on-year increase in June, Statistics South Africa (Stats SA) data on Thursday showed. The PPI rose 1,6% on a monthly basis after June’s monthly increase of 2,1%.
South Africa’s real gross domestic product (GDP) at market prices on a quarter-on-quarter seasonally adjusted annualised (saa) basis rose by 4,5% in the second quarter of 2007 from 4,7% in the first quarter of 2007, Statistics South Africa said on Tuesday. This comes after GDP rose as high as 5,6% in the fourth quarter of last year.