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Africa Economy - January 2016

Source: OPEC 2/1/2016, Location: Africa

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In Egypt, consumer price inflation posted its highest increase in 17 months in December at 11.9% y-o-y. Similarly, the input cost pressure remained strong in the non-oil private sector as indicated by the PMI. The December reading of the index suggested a lesser worsening in business conditions with the index at 48.2 in December, from 45.0 in the previous month. The survey showed that output, new work and job creation all decreased at slower rates.

The economy of South Africa posted growth of 1.0% y-o-y in 3Q15. This compares with 1.4% and 2.2% posted in the first two quarters of the year, respectively. The downturn in the economy’s private sector extended to its seventh consecutive month in December, according to the PMI. The survey showed a sharp decline in private sector output amid another deceleration in new orders, alongside a slight decrease in job creation.

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