Indicators released in April were mixed, with respective declines of -29.7% y-y and -2.8 points (to 89.9 points) in new vehicle sales and business confidence in March. The ABSA PMI gained 3.8 points in March to 48.1 points.
CPI inflation was 4.1% y-y in March, down from 4.6% in February. Fuel prices for May declined to R11.52/litre and R10.48/litre for petrol and diesel respectively (coastal) after a -R1.74 and -R1.61 respective cut in prices. During the month, the SA Reserve Bank cut the repo rate by a further -100bps to 4.25%.
