JOHANNESBURG, Dec 5 Reuters The South African rand was slightly weaker in early trade on Tuesday, before the release of thirdquarter gross domestic product GDP data.

At 0825 GMT, the rand traded at 18.8350 against the dollar , about 0.1 weaker than its previous close.

The dollar last traded around 0.1 stronger against a basket of global currencies.

Statistics South Africa will publish the GDP numbers at 0930 GMT, with analysts polled by Reuters predicting a 0.2 yearonyear decline and a 0.1 contraction in quarteronquarter terms.

A PMI survey on Tuesday showed South African private sector business activity flatlined in November, with a cooling of price pressures counteracted by supply chain disruptions due to a port crisis.

On the Johannesburg Stock Exchange, the bluechip Top40 index was down about 0.5 in early trade. South Africa39;s benchmark 2030 government bond was weaker, the yield up 2.5 basis points to 9.985.

Reporting by Tannur Anders Editing by Alexander Winning

Source Reuters

Leave A Comment