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Send  Print  Share  RSS  Twitter  10 Dec 2009

SA Today: Key events to watch, Thursday Dec 10

 
--- SARB releases Q3 2009 quarterly economic bulletin.
--- Stats SA releases October civil cases for debt.
--- Stats SA releases October mining production stats.
--- Stats SA releases November liquidations and insolvencies.
WHAT TO WATCH FOR:
Local markets will be keeping their eyes on key economic data due out on Thursday. While the civil cases for debt and the liquidations and insolvency data will provide an indication of the health of both companies and consumers, the mining production date will provide clues as to whether one of the country major sectors is emerging from the downturn.
Mining production growth declined notably in September to -15.9% y/y from -8.4% in August. The decline is in contrast with the outstanding improvement in manufacturing production in recent months.
Nevertheless, it is likely that mining production growth will have improved in October, although much of the improvement will be due to the correction in the statistical distortion in September.
But more importantly, local markets will be keenly monitoring the data released in the SARB`s Q3 quarterly economic bulletin.
According to a survey by I-Net Bridge, South Africa`s current account deficit is expected to have reached a deficit of -3.3% of GDP in the third quarter from the -3.2% deficit seen in the second quarter.
The range of forecasts among the 14 economists surveyed ranged from -4.7% to -2.5% of GDP.
This will be a continuation of the improving trend seen after the -7.0% in the first quarter and the -7.8% at the same time a year ago.
ON THE HORIZON:
Dec 11: Weekly treasury bill auction.
Dec 11: Nictus releases interim results (approx date).
Dec 12: No events scheduled.
Dec 13: No events scheduled.
Dec 14: No events scheduled.
Dec 15: Weekly government bond auction - final one for 2009, next one on January 12 2010.
Dec 15: Stats SA releases November CPI.
Dec 15: Stats SA releases October building statistics.
Dec 16: Markets closed for Day of Reconciliation public holiday.
Dec 17: Stats SA releases November PPI.
Dec 17: Crop Estimates Committee releases Winter: 5th production forecast.
FURTHER AHEAD
Dec 18: Weekly treasury bill auction.
Dec 19: No events scheduled.
Dec 20: No events scheduled.
Dec 21: No events scheduled.
Dec 22: No events scheduled.
Dec 23: No events scheduled.
Dec 24: Weekly treasury bill auction.
Dec 25: Markets closed for Christmas Day.
Dec 26: No events scheduled.
Dec 27: No events scheduled.
Dec 28: No events scheduled.
Dec 29: No events scheduled.
Dec 30: SARS releases November trade data.
Dec 30: Treasury releases statement of national revenue, expenditure and borrowing.
Dec 31: SARB releases November M3 and PSCE data.
Dec 31: Weekly treasury bill auction.
I-Net Bridge, Tel: +27-11-280-0644, newsdesk@inet.co.za
Copyright 2009 I-Net Bridge. All rights reserved.

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