Investec Purchasing Managers Index contracts sharply

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By Andre Roux

The seasonally adjusted Investec PMI sunk to 46.4 in February, well below the critical level of 50. In all likelihood, the decline reflects not only the effect of a softening real economy, but also the impact of the electricity crisis on the sector.

Both output and new sales […]

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South Africa’s current account deficit points to rand weakness

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By Kevin Lings

In January 2008, South Africa’s trade account recorded another large deficit of R10.2 billion. The market was expecting a deficit of around R8 billion, although the trade balance is notoriously difficult to forecast.

During January 2008, exports fell by a substantial 7.6%, while imports rose by a […]

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