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S&P Global PMI Improves, Q3 GDP Data Eyed

SOUTH AFRICA
  • The Constitutional Court lowered the threshold for independent candidates to register for next year's general elections. They will now be required to collect just 1,000 signatures (rather than 10,000-14,000) to enter the race, as the Court deemed the earlier threshold prohibitively high.
  • The National Nuclear Regulator (NNR) said that over much of the next two years, only one unit of the Koeberg nuclear power plant will be operational at a time. The NNR will make a recommendation on extending the plant's long-term operating license in March, with a final decision due in July.
  • S&P Global PMI improved to the breakeven 50.0 level in November from 48.9 prior. The authors of the survey cited a "welcome slowdown in inflation in the private sector economy" amid "an improvement in the exchange rate versus the US dollar".
  • South Africa's Q3 GDP data will cross the wires at 09:30GMT/11:30SAST. Consensus looks for a mild contraction (-0.1% Y/Y), according to a Bloomberg survey of economists. Seasonally adjusted growth may have flatlined in Q/Q terms.

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