Staff Writer | 2016-11-06 16:22:33.0
A factory worker.
Image by: Nardus Engelbrecht / Gallo Images
Mining and manufacturing production updates due for release this week are likely to confirm a weakening of momentum in these sectors in the third quarter‚ says Investec economist Kamilla Kaplan.
“Mining production is forecast to have lifted to 3.8% year on year (y/y) in September from -0.2% y/y in August‚ with lower statistical base factors providing a boost. Manufacturing production is projected to have stagnated at -0.1% y/y in September versus a prior 2.2% y/y‚” she says.
The mining and manufacturing production updates for September‚ which are scheduled for release on Thursday‚ will conclude the sectors’ releases for the third quarter.
“The data released so far suggests that in the third quarter momentum subsided relative to the second quarter. This implies that the sectors’ contributions to third quarter GDP will be smaller‚” Kaplan opines.
Also due for release this week are the country’s gross and net reserves positions for October‚ which data will be released on Monday‚ followed on Wednesday by the SACCI Business Confidence Index‚ also for October.
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