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Fanie Joubert

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Article
/ 2 April 2008

February credit growth slows to 20,79%

Growth in demand for credit from South Africa’s private sector slowed to 20,79% year-on-year in February, lower than expectations and easing pressure for an interest-rate hike next week. The central bank said on Wednesday private sector credit extension slowed from a revised 23,06% year-on-year in January.

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Article
/ 27 March 2008

February PPI ‘a shock to the system’

South Africa’s producer price inflation (PPI) accelerated above forecasts to 11,2% year-on-year in February from 10,4% in January, official data showed on Thursday.
Statistics South Africa said the headline number, representing domestic output, stood at 1,3% on a monthly basis, compared with 1% previously. Economists polled last week forecast that annual PPI would come in at 10,7%, while the monthly rate of increase was seen at 0,8%.

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Article
/ 12 March 2008

SA manufacturing output quickens

South Africa’s manufacturing output growth quickened to an unadjusted 1,4% year-on-year in January, despite an energy crisis that knocked industry, official data showed on Wednesday. Compared with December, manufacturing production in volume terms increased, unexpectedly, by a seasonally adjusted 1,1%, Statistics South Africa said.

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Article
/ 6 March 2008

January PPI at 10,4%

South Africa’s new basket of producer price inflation stood at 10,4% year-on-year in January, official data showed on Thursday. Statistics South Africa said the headline number represented domestic output which measured 9,5% in December. On a monthly basis, PPI increased by 1%.

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Article
/ 29 February 2008

January trade deficit widens to R10,2-billion

South Africa’s monthly trade deficit widened to R10,2-billion in January, compared with December’s R1,2-billion gap, the South African Revenue Service said on Friday. Compared with the previous month, exports fell by 8% while imports increased by 13%, largely due to a rise in imports of minerals products and machinery.

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/ 28 February 2008

Inflation surge boosts rate-hike chances

South Africa’s consumer inflation, which jumped unexpectedly in January, raised the risk of further monetary tightening despite worries over slowing economic growth. Statistics South Africa said on Wednesday that targeted CPIX (consumer inflation less mortgage costs) stood at 8,8% year-on-year in January compared with 8,6% in December.

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Article
/ 10 January 2008

Dismal mining figures despite price rally

South Africa’s mining sector made a positive contribution to the overall GDP in the third quarter of 2007, but this is not expected to be the case in the fourth quarter, Efficient Group economist Fanie Joubert said on Thursday. "The main stumbling block to the mining sector is the strike action as well as deaths on the mines," said Joubert.

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Article
/ 20 December 2007

November PPI slows to 9,1%

South Africa’s producer price inflation (PPI) slowed to 9,1% year-on-year in November, below forecasts, from a 9,5% rise in October. On a monthly basis, PPI rose by 0,3% after a 1,1% jump in October. Economists had forecast that annual PPI would come in at 9,7%, while the monthly rate of increase was seen at 0,8%.

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Article
/ 19 December 2007

SA inflation jumps, backs rate rise

South African consumer inflation raced further away from the central bank’s band in November, backing the case for another interest rate rise, despite a slowdown in retail sales. The targeted CPIX gauge — which strips out mortgage costs — jumped to 7,9% year-on-year from 7,3% in October.

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