Recent Data Highlights Ongoing Slump In South African Industry Activity – iShares MSCI South Africa ETF (NYSEARCA:E…

In this article, we will take a look at the most recent economic data covering the South African (EZA) economy, specifically referencing the supply-side or production side of the economy. As we have detailed in prior articles, a mix of structural constraints (most notably as it pertains to the country’s state-owned electricity company), as well as an ongoing and worsening policy disconnect, are severely damaging the country’s supply-side and key export sectors.

This dynamic was once again in evidence following disappointing mining and manufacturing output for March, which points to a likely contraction in these sectors when GDP data for the first quarter of 2018 is released in coming weeks. Manufacturing production contracted by 1.3% y/y in March, the first y/y contraction since September last…

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