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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.

    September retail sales registered a very robust 5.4% y/y expansion, with all categories apart from hardware growing in the month. The September print, the last for the third quarter, saw the quarter-on-quarter change come in at 1.4%. General dealers, which expanded by 3.4% y/y was the second biggest contributor (1.5pps) after “other retailers”, which have […]

    • 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.

    South Africa’s manufacturing sector continues to struggle, contracting -1.6% y/y in September, and down -0.8% on a month-on-month basis. Wood and paper products, which fell -7% y/y, shaved off -0.9pps, while petroleum product manufacturing and motor vehicles, parts and accessories declined -2.5% and -4% respectively, subtracting another -0.9pps from the number. The weakness was extremely […]

    • 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.

    September mining production contracted by -0.9% y/y and -7.1% m/m, contrary to our expectations of a moderate expansion. The worse than anticipated number was largely the result of a -7.5% y/y decrease in iron ore output, and a -8.3%  and -2.0% drop in PGM and coal production respectively. Gold, manganese and other non-metallic minerals added […]

    • 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.

    August retail trade sales exceeded our expectations of modest growth, registering an extremely robust 5.5% y/y and 2.4% m/m. The print was the highest annual growth rate since May 2013, and didn’t come off a particularly low base.  Year-to-date, retail sales are tracking 1.5% higher than at the same point last year. General dealer sales […]

    • 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.

    Contrary to our expectation of a small contraction in August mining output, production surged 6.9% y/y and 5.3% m/m (seasonally adjusted), with all components of the index, apart from copper and building materials, registering gains. The biggest contributors to the jump in production were iron-ore, diamonds and gold, adding 1.3 pps, 1.2 pps and 1.1 […]

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