JOHANNESBURG, Dec 7 – Growth in South Africa’s retail sales slowed more than expected in October, suggesting that consumer demand is still hesitant and interest rates will stay low for longer.
Category: business
World Bank cuts Kenya 2011 growth forecast to 4.3 pct
NAIROBI, Dec 8 – The World Bank has cut Kenya’s economic growth forecast for this year to 4.3 percent from its earlier forecast of 4.8 percent due to a sharp jump in prices and instability in the exchange rate among other economic shocks, it said on Thursday.
Weak mining, manufacturing data backs case for S.Africa rate cut
JOHANNESBURG, Dec 8 – Growth in South Africa’s manufacturing production slowed sharply in October and mining output contracted, reflecting the impact of a global slowdown and supporting the case for a domestic interest rate cut.
African business agenda: 12-15 December
WHAT TO WATCH NEXT WEEK
S.Africa Q3 GDP disappoints as mining contracts
JOHANNESBURG, Nov 29 – South Africa’s economy grew less than expected in the third quarter highlighting domestic weakness that might see the Reserve Bank consider cutting interest rates.
African business agenda 5-9 December
WHAT TO WATCH NEXT WEEK in Africa’s business.
African business agenda: 28 nov-2 dec
WHAT TO WATCH NEXT WEEK Monday November 28 • Presidential and parliamentary elections in Democratic Republic of Congo. The polls look set to go ahead as planned, despite growing evidence or grossly inadequate preparations that will almost certainly mean a disputed result. Tuesday November 29 • South Africa October credit and money supply data. Household credit growth […]
Nigeria GDP rebase may pose challenge to S.Africa
LAGOS, Nov 11 – Nigeria’s plan to rebase its GDP will enable it to project its power on the world stage and may pose a serious challenge to South Africa’s position as the dominant force on the continent.
Holiday flows to help Kenya shilling
NAIROBI, Nov 17 – East Africa’s shillings are all expected to strengthen against the dollar next week as tourism revenues start to climb with the onset of the year-end holiday season and Africans overseas send money home to relatives.
Nigeria economy slows in Q3, Oct inflation rises
ABUJA, Nov 14 – Nigeria’s economic growth slowed slightly in the third quarter to 7.4 percent year-on-year as oil output dipped but a rise in headline inflation in October strengthened expectations for an interest rate rise next week, data showed on Tuesday.