ECONOMIC WEEK AHEAD: Producer inflation and household spending in the spotlight

The week ahead will see the release of producer inflation, private sector credit extension and the Reserve Bank’s second-quarter leading indicatorMore clues to SA’s second-quarter economic performance are expected in the week ahead, with a full calendar that includes

SA’s first-quarter employment statistics are also due on Tuesday, and could reflect the country’s poor economic performance in the quarter. GDP contracted by a surprise 3.2% in the first three months of the year, hit by load-shedding and drought conditions affecting the labour-intensive agricultural sector.

Just a week after it was announced that consumer inflation had accelerated slightly, to 4.5% year on year in May, Statistics SA will on Thursday release data that will likely show that farm and factory gate inflation, as measured by the annual change in the PPI, eased slightly from 6.5% in April. The Bloomberg consensus is for 6.4% growth.

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