South Africa’s producer inflation slowed to 6.9% year on year in September from 7.2% in August as lower global oil and food prices helped ease some of the burden on consumers.
The Fed ended its third round of quantitative easing after starting to taper monthly asset-purchase amounts in December. The U.S. central bank maintains its commitment to keep interest rates low “for a considerable time”. Less expected by the markets was the
Fed’s expression of confidence in the US recovery, despite global growth concerns. This confidence was reaffirmed by the U.S. third quarter GDP figures, as the economy grew at an annualised rate of 3.5%.
Some economists said growth numbers had a misleading shine as the economy was boosted by two surprise factors — a 16% spike in national defence expenditure and a shrinking trade deficit.
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- View South Africa annual reports