The ongoing, and worsening, power crisis in SA was a major theme at the central bank’s (SARB) Monetary Policy Committee (MPC) meeting last week. Besides the 25bps policy rate hike, most attention was focused on the stark downgrade to the SARB’s real GDP read more

The ongoing, and worsening, power crisis in SA was a major theme at the central bank’s (SARB) Monetary Policy Committee (MPC) meeting last week. Besides the 25bps policy rate hike, most attention was focused on the stark downgrade to the SARB’s real GDP growth forecast for the next three years.

Last week’s local activity data for November was a mixed bag. Following poor manufacturing and electricity generation data the week prior, it now seems clear that mining output will also weigh on real GDP growth in Q4. On the positive side, retail sales did read more

Last week’s local activity data for November was a mixed bag. Following poor manufacturing and electricity generation data the week prior, it now seems clear that mining output will also weigh on real GDP growth in Q4. On the positive side, retail sales did better than expected in November and the internal trade sector as a whole may add positively to Q4 GDP growth. There were also two key inflation-related releases last week.

Barely two weeks into the new year, severe (and worsening) capacity constraints forced Eskom to move to indefinite, continuous stage 6 load-shedding on Wednesday. Worryingly, the energy supply situation is unlikely to improve over the short term, while demand read more

Barely two weeks into the new year, severe (and worsening) capacity constraints forced Eskom to move to indefinite, continuous stage 6 load-shedding on Wednesday. Worryingly, the energy supply situation is unlikely to improve over the short term, while demand is set to pick up as economic activity returns following the December break.