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/ 23 April 2008

SA March inflation soars to new five-year high

South Africa’s targeted CPIX (consumer inflation less mortgage costs) rate jumped to a new five-year high of 10,1% in March, beating forecasts and hardening expectations for another interest-rate increase. Statistics South Africa said the targeted measure jumped from 9,4% in February to its highest level since December 2002.

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/ 16 April 2008

February retail sales growth accelerates

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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/ 26 February 2008

South Africa records strong growth for 2007

South Africa’s economic growth jumped unexpectedly in the fourth quarter of 2007, keeping expansion for the year near a two-decade record at 5,1% as buoyant corporates outweighed slower consumer spending. Africa’s biggest economy has remained resilient despite higher interest rates, although growth is likely to slow in 2008.

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/ 29 January 2008

Power crunch raises infrastructure doubts

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

SA November manufacturing slows

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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/ 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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/ 5 December 2007

ANC race stirs economic concerns

South Africa’s economic boom looks set to persist but concerns linger over the direction of policy after the crucial African National Congress (ANC) conference, which seems likely to choose Jacob Zuma as the ruling party’s new leader. Economic growth jumped to 5,4% in 2006 — its fastest rate since 1981 — and wealth is spreading to a burgeoning black middle class.

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/ 5 December 2007

Manufacturing output quickens to 5,2%

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

Zuma brushes off scandals to lead race

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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/ 27 November 2007

SA GDP growth increases in third quarter

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.