BER Weekly
BER Weekly, 20 September 2021
Last updated: Sep 20 2021 8:35AM
Apart from the latest mining output stats, the domestic data releases of last week were another stark reminder of how severely economic activity was impacted by a number of shocks in July. Globally, the focus was again on price developments, with
read moreApart from the latest mining output stats, the domestic data releases of last week were another stark reminder of how severely economic activity was impacted by a number of shocks in July. Globally, the focus was again on price developments, with international inflation data moving in opposite directions during August. While the rise in US consumer prices was slightly less than expected, across the Atlantic consumer prices moved significantly higher in the UK and Europe.
BER Weekly, 13 September 2021
Last updated: Sep 13 2021 7:44AM
It was a data-heavy week in SA, with the 2021Q2 real GDP data indicating that the economy had better-than-expected recovery momentum in the first half of the year. While growth remained solid in the second quarter, both the survey and actual data released
read moreIt was a data-heavy week in SA, with the 2021Q2 real GDP data indicating that the economy had better-than-expected recovery momentum in the first half of the year. While growth remained solid in the second quarter, both the survey and actual data released last week revealed the significant impact that the range of shocks at the start of the third quarter had on confidence and activity.
BER Weekly, 6 September 2021
Last updated: Sep 6 2021 9:23AM
Last week saw the first batch of domestic data releases for August, giving us some indication of the extent of the recovery following the disruptions in July. Fortunately, the PMI releases suggest a solid rebound in activity, particularly in the manufacturing
read moreLast week saw the first batch of domestic data releases for August, giving us some indication of the extent of the recovery following the disruptions in July. Fortunately, the PMI releases suggest a solid rebound in activity, particularly in the manufacturing sector. However, external trade data for July was a further indication of the pain experienced in the month, with the value of exports slumping. The international and financial market focus was on a slew of PMI data (with the weak figures from China standing out) as well as the August US job figures on Friday. In general, from very elevated levels, the PMI data suggest that the loss in global growth momentum that we saw in July was sustained through August.
BER Weekly, 30 August 2021
Last updated: Aug 30 2021 7:55AM
It was a week of contrasting data for the local economy. Stats SA’s rebasing and revisions to the historic GDP data showed that the GDP crash in 2020 was less than thought earlier. On the other hand, the employment figures for 2021Q2 were yet another
read moreIt was a week of contrasting data for the local economy. Stats SA’s rebasing and revisions to the historic GDP data showed that the GDP crash in 2020 was less than thought earlier. On the other hand, the employment figures for 2021Q2 were yet another depressing read on the state of the SA job market.
BER Weekly, 23 August 2021
Last updated: Aug 23 2021 8:07AM
Last week, global market movements continued to be driven by concerns about the trajectory of the Delta variant of COVID-19 and its impact on the global economy. Indeed, some private sector forecasts for US and Chinese real GDP growth have been downgraded in
read moreLast week, global market movements continued to be driven by concerns about the trajectory of the Delta variant of COVID-19 and its impact on the global economy. Indeed, some private sector forecasts for US and Chinese real GDP growth have been downgraded in recent weeks. Markets were also affected by the mid-week release of the minutes from the US Federal Reserve’s (Fed) monetary policy meeting that took place late July. The developments in Afghanistan also remained an uncomfortable feature in global headlines. On the local data front, a slew of internal trade numbers for June was released, while the July consumer inflation print came in slightly lower than expected.
BER Weekly, 16 August 2021
Last updated: Aug 16 2021 7:54AM
Given a dearth of local economic data releases, global events had the biggest impact on local financial markets last week. This was especially true for the rand exchange rate. Domestically, last week started on a sour note with the news of a massive explosion
read moreGiven a dearth of local economic data releases, global events had the biggest impact on local financial markets last week. This was especially true for the rand exchange rate. Domestically, last week started on a sour note with the news of a massive explosion at unit 4 of the Medupi power station.
BER Weekly, 6 August 2021
Last updated: Aug 6 2021 9:12AM
In the few days since the previous Weekly Review, two developments on the economic and political front stand out. The first being last night’s much speculated about cabinet reshuffle. This week also saw the first domestic data releases illustrating the
read moreIn the few days since the previous Weekly Review, two developments on the economic and political front stand out. The first being last night’s much speculated about cabinet reshuffle. This week also saw the first domestic data releases illustrating the negative impact on the economy from the supply side and confidence shocks in July.
BER Weekly, 2 Aug 2021
Last updated: Aug 2 2021 8:20AM
With relative calm restored to KwaZulu-Natal (KZN) and Gauteng last week, attention turned to government’s response to the adverse impact of recent events on individuals, firms and the broader economy. The economy suffered an additional setback last week when
read moreWith relative calm restored to KwaZulu-Natal (KZN) and Gauteng last week, attention turned to government’s response to the adverse impact of recent events on individuals, firms and the broader economy. The economy suffered an additional setback last week when an IT security breach at Transnet severely disrupted operations at SA’s major ports.
BER Weekly, 26 July 2021
Last updated: Jul 26 2021 8:17AM
After the riots and unrest of the previous week, last week was fortunately calmer on that front. Nonetheless, the stream of updates of the structural damage to some private businesses and public facilities confirms our assessment that it will take some time
read moreAfter the riots and unrest of the previous week, last week was fortunately calmer on that front. Nonetheless, the stream of updates of the structural damage to some private businesses and public facilities confirms our assessment that it will take some time for these to be rebuilt and to fully get back online.
BER Weekly, 19 July 2021
Last updated: Jul 19 2021 8:08AM
The domestic GDP recovery from the 2020 crash was dealt another hefty blow last week. It is impossible to fully summarise and digest last week’s dramatic domestic events in the Weekly. It was a week in which socio-economic and political tensions finally
read moreThe domestic GDP recovery from the 2020 crash was dealt another hefty blow last week. It is impossible to fully summarise and digest last week’s dramatic domestic events in the Weekly. It was a week in which socio-economic and political tensions finally boiled over.