Report
Primaresearch
Thambo Mthwalo

Consumer watch - October 2017

Summary

 Recent economic indicators point to a largely positive period of consumption in the months leading to October. Encouraging retail sales growth was reported for August at 5.5% y/y, while food and beverages sales growth outpaced CPI in the same month. In September, the SA Consumer and Producer Price Index increased by 30bps and 100bps to 5.1% and 5.2% respectively. Business confidence recovered somewhat from the August decline, coming in at 93.0 points. Manufacturing remains weak; the ABSA Purchasing Managers’ Index gained 0.9 points to 44.9 points in September. The rand slipped following the Medium-Term Budget Policy Statement. The rand weakened past the ZAR14.00/USD mark, ending the month of October trading at ZAR14.14/USD, above the monthly average of ZAR13.67/USD. Fuel prices continue to rise unabated with petrol increasing 4c/litre and diesel by 23c/litre at the coast in November.

01/11/2017 5 EN
Provider
Primaresearch
Primaresearch

Primaresearch is an independent, sell-side, equity research firm based in Cape Town, South Africa. We focus our research on consumer-facing companies as we have credible experience in this space. The name “primaresearch” invokes both high quality (prime) as well as “primary” research – being novel and offering value-add investment insights for our clients.

Our Vision

Our vision is to be the leading independent sell-side research firm in Africa. While we start with South Africa, we are looking into providing our clients with comprehensive, Africa-wide consumer-facing company and market research. Africa is poised to emerge as a significant consumer market, for which investors in South Africa and abroad will require thorough research and insights on. We aim to be the “go-to” research firm for these investors.

Our Culture

  • We foster an environment where our analysts can think creatively, to search beyond the obvious and look for interesting investment angles.
  • This is an environment where there is a free flow of ideas, discussions and debates.

We take a thematic approach in our research. This thematic approach highlights issues, risks and opportunities which investors may not have considered. Our goal is to bring “new” information to our clients’ attention, avoiding “maintenance” research which regurgitates existing information and talks to analyst models and numbers.

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Thambo Mthwalo

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