Africa July 2006

Posted by Scriptaty | 1:12 AM

  • Preliminary estimates indicate South Africa’s firstquarter GDP grew 4.2 percent over the previous quarter and increased 4.9 percent year-to-year. Activity in the first quarter was boosted primarily by the finance, real estate, and business services industry (1.7-percent increase); the wholesale and retail trade, hotels, and restaurants industry (0.7 percent); the manufacturing industry (0.7 percent); the transport and communication industry (0.5 percent); and the construction industry (0.4 percent).

  • The South African Reserve Bank raised its repurchase rate 0.5 percent to 7.5 percent, its first move since a 0.5-percent cut in May 2005.