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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
SOUTH AFRICA
MNI (London)
SOUTH AFRICA Q1 2022 GDP RISES +3.0% Y/Y (FCST +1.9%); Q4 2021 +1.7% Y/Y
SOUTH AFRICA Q1 2022 SA GDP RISES +1.9% Q/Q (FCST +1.2%); Q4 2021 +1.4%r Q/Q
Q4 2021 Q/Q GDP REVISED UP 0.2PP
- South African GDP advanced 3.0% y/y and 1.9% q/q in Q1 2022, beating forecasts by 1.1pp and 0.7pp respectively.
- The upbeat print sees GDP back at pre-pandemic levels. Manufacturing was the key driver of growth, expanding 4.9% q/q in Q1 on the back of petroleum and chemical production, food, metals and machinery.
- MNI noted the likelihood of upside surprises in this data, following BankservAfrica’s Economic Transactions Index implying above the 2% mark, with the surge in metal commodity prices due to the Ukraine war seeing revenues improve.
- Looking forward, the impact of the floods in KwaZulu-Natal in April which saw significant damage to infrastructure will likely dampen GDP in Q2 2022.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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