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    Jason is the senior industry analyst at FNB. Prior to joining FNB, Jason worked in the Global Markets Research team at Rand Merchant Bank. In his six years with the FirstRand group, he has advised both internal and external clients on how macroeconomic factors will impact developments within the various sectors of the economy. Before joining Rand Merchant Bank, Jason was the Head of Natural Resources research at Accenture, a global management consultancy. He holds a PhD in Anthropology from the University of the Witwatersrand.

    December retail trade sales far exceeded our expectations, rising 5.3% y/y, but down -2.6% m/m on a seasonally adjusted basis. General dealers, clothing and “other retailers each added 1.4 pps (4.2 pps cumulatively), jumping 3.3% y/y, 5.9% and 14.7% respectively. In what may be tentative signs of a recovery in durable goods sales, furniture retailers […]

    • Date of birth:
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    Jason is the senior industry analyst at FNB. Prior to joining FNB, Jason worked in the Global Markets Research team at Rand Merchant Bank. In his six years with the FirstRand group, he has advised both internal and external clients on how macroeconomic factors will impact developments within the various sectors of the economy. Before joining Rand Merchant Bank, Jason was the Head of Natural Resources research at Accenture, a global management consultancy. He holds a PhD in Anthropology from the University of the Witwatersrand.

    Manufacturing output maintained its momentum in the last month of 4Q17, with the December print coming in at 2% y/y, and up 1.1% m/m. It must, however, be remembered that the December figure comes off a low base. Food and beverages, petroleum, basic iron and steel and motor vehicle and parts manufacturing were the main […]

    • Date of birth:
    • Lives in:
    • From:
    • Studied:

    Jason is the senior industry analyst at FNB. Prior to joining FNB, Jason worked in the Global Markets Research team at Rand Merchant Bank. In his six years with the FirstRand group, he has advised both internal and external clients on how macroeconomic factors will impact developments within the various sectors of the economy. Before joining Rand Merchant Bank, Jason was the Head of Natural Resources research at Accenture, a global management consultancy. He holds a PhD in Anthropology from the University of the Witwatersrand.

    Posted InEconomics, Mining

    December mining output surprised sharply to the downside, slowing to just 0.1% y/y, compared to 6.5% in November. Gold production fell -12.4% y/y, cutting -2 pps off the headline number. Copper and coal production declined by -16.3% y/y and -5.5% respectively, shaving a further -1.5 pps, while PGM output contracted -1.4% y/y. The year-on-year number […]

    • Date of birth:
    • Lives in:
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    Jason is the senior industry analyst at FNB. Prior to joining FNB, Jason worked in the Global Markets Research team at Rand Merchant Bank. In his six years with the FirstRand group, he has advised both internal and external clients on how macroeconomic factors will impact developments within the various sectors of the economy. Before joining Rand Merchant Bank, Jason was the Head of Natural Resources research at Accenture, a global management consultancy. He holds a PhD in Anthropology from the University of the Witwatersrand.

    November retail trade sales surpassed even our bullish expectations, registering 8.2% y/y from an upwardly revised 3.5% in October. This was the strongest year-on-year performance in five years.  Sales were 4% higher m/m on a seasonally adjusted basis. General dealer sales jumped 6% y/y, while furniture, clothing and pharmaceutical sales accelerated 14.1%, 12.4% and 4.6% […]

    • Date of birth:
    • Lives in:
    • From:
    • Studied:

    Jason is the senior industry analyst at FNB. Prior to joining FNB, Jason worked in the Global Markets Research team at Rand Merchant Bank. In his six years with the FirstRand group, he has advised both internal and external clients on how macroeconomic factors will impact developments within the various sectors of the economy. Before joining Rand Merchant Bank, Jason was the Head of Natural Resources research at Accenture, a global management consultancy. He holds a PhD in Anthropology from the University of the Witwatersrand.

    Slowdown in civil construction activity deepens in Q4 After falling to a 17-year low in 3Q2017, the FNB/BER Civil Confidence Index gained 4 points to register a level of 19 in 4Q2017. Despite the slight uptick in confidence, growth in construction activity slowed further. The survey results suggest that the outlook, especially for activity, remains […]

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