Consumer confidence for 3Q18 declined to levels we believe are more reflective of SA’s current economic standing. CPI and PPI inflation rose 20bps and 70bps in October to 5.1% and 6.9% respectively, while the PMI slipped again, losing -0.8 points in October. Business Confidence improved by 2.5 points in October adding to previous gains. Motorists will get a 184c/litre and 145c/litre drop in the prices of petrol and diesel respectively. In November, the Rand strengthened against the USD (m/m) a likely factor to this movement being the SARB’s move to bump the repo rate up by 25bps.
