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Morning news - Another great deal for Aspen
Friday, July 25, 2008 (60 reads)
A big talking point over the last week has been the dramatic fall in the price of oil, which at $124/barrel last night in New York, was at a six-week low.
Cheaper oil has many implications, such as lower prices at the pump (petrol prices could fall by 30c/l in August), and in turn a better outlook for inflation. This in turn boosts confidence in interest-rate sensitive sectors such as banks or credit retailers.
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WEEKLY ECONOMIC MONITOR
Friday, July 25, 2008 (57 reads)
A weaker US dollar and higher precious metal prices supported the rand against major currencies over the past week. The unit ended firmer at R7,65 and R15,24 against the US dollar and the British pound on Friday from R7,74 and R15,30 a week earlier...
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Economic comment – Manufacturing production
Friday, July 25, 2008 (72 reads)
Annual growth in manufacturing output slowed in May, following a seasonally boosted jump in April. Over the three month period to May, manufacturing grew by 2,9% y-o-y, with 6 out of 10 major categories expanding, but ‘electrical machinery’ and ‘petroleum, chemicals products, rubber and plastic products’ categories fared much better...
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WEEKLY ECONOMIC MONITOR
Monday, July 07, 2008 (57 reads)
The rand closed the week firmer, supported by stronger precious metal prices and the release of worse-than-expected inflation data, which probably seals the case for another interest rate hike in August.
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Economic Research - Trade Data
Monday, July 07, 2008 (52 reads)
The trade deficit narrowed to below market expectations, as growth in imports was contained by a decline in imports of mineral products, including oil, which fell by R4,5 billion in May.
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Economic comment – Vehicle sales
Monday, July 07, 2008 (101 reads)
Annual new vehicle sales recorded another sharp decline in June. Demand for passenger, light commercial and medium commercial vehicles continued to be dampened by higher prices - especially fuel prices, interest rates and expectation for further interest rate hikes.
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