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South African economy grows strongly in Q4 2017, but growth momentum to slow down

The South African economy surprisingly grew solidly in the fourth quarter. The unexpected solid expansion of the South African economy in the December quarter led to the USD/ZAR pair to ease by 10 pips to levels around 11.75 yesterday morning.

While consensus had expected an annualized quarter-on-quarter rise of 1.8 percent on a seasonally adjusted basis, the published data surprised with a rise of 3.1 percent. This is good news in view of Moody’s rating review at the end of the month – as higher growth facilities the urgently required consolidation of the public finances.

The change in government and the hope of a change in politics are expected to lead to positive momentum for investments, noted Commerzbank in a research report. But the planned tax rises, rising imports and the continued drought are expected to decelerate the growth momentum.

“We remain cautious regarding the rand”, added Commerzbank.

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2018-12-19 14:48:26
0m

December 19 15:00 UTC Released

USExist. Home Sales % Chg

Actual

1.9 %

Forecast

-0.6 %

Previous

1.4 %

December 19 15:00 UTC Released

USExisting Home Sales

Actual

5.32 Mln

Forecast

5.2 Mln

Previous

5.22 Mln

January 31 00:00 UTC 464608464608m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 464608464608m

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 476428476428m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 464608464608m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 476428476428m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 464608464608m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 464608464608m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 464608464608m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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