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Reuters
2 days ago
- Business
- Reuters
Moroccan economy grew 4.8% in Q1
RABAT, June 30 (Reuters) - Morocco's economy grew 4.8% in the first quarter this year, compared with 3% the same period last year, the national statistics agency HCP said. The growth was driven by an improvement in farming and industrial activities, which grew 4.6% and 4.5% respectively, HCP said in a report. Growth was also supported by an 8% increase in domestic demand in the first three months this year, from 4% the same period last year, offsetting a negative contribution of foreign trade to economic growth, it said.
Reuters
16-06-2025
- Business
- Reuters
Nigeria's consumer inflation falls for a second month in May
ABUJA, June 16 (Reuters) - Nigeria's headline inflation rate (NGCPIY=ECI), opens new tab fell slightly for the second month in May, to 22.97% year-on-year from 23.71% in April, data from its statistics agency showed on Monday. Africa's most populous country has been battling high inflation which soared to repeated 28-year peaks last year, spurred by President Bola Tinubu's move to end costly subsidies and devalue the naira currency after he came to power in 2023. After a rebasing exercise where the statistics bureau updated its base year to 2024, from 2009, and reweighted the inflation basket, the annual inflation rate fell sharply from 34.80% in December to 24.48% in January. Food inflation, a key driver of the headline rate, stood at 21.14% year on year (NGFINF=ECI), opens new tab in May compared with 21.26% the month before. Last month, at its second rate-setting meeting of the year, the central bank held its key interest rate for a second consecutive time, following six hikes last year, citing improved macroeconomic indicators supporting medium-term price moderation.
Reuters
10-06-2025
- Business
- Reuters
South African rand shrugs off weak manufacturing data
JOHANNESBURG, June 10 (Reuters) - The South African rand strengthened on Tuesday despite a sharp contraction in local manufacturing output, as investors waited for more clarity on U.S.-China trade talks. At 1415 GMT, the rand traded at 17.69 against the dollar , about 0.2% stronger than Monday's closing level. South Africa's manufacturing output (ZAMAN=ECI), opens new tab fell 6.3% year on year in April, the sixth consecutive monthly decline, statistics agency data showed on Tuesday. Analysts polled by Reuters had expected a drop of 3.9%. Weakness in the manufacturing sector was one factor behind the first quarter's sluggish growth of just 0.1%(ZAGDPN=ECI), opens new tab, offsetting a strong performance by agriculture. The rand was also supported on Tuesday by a stronger global gold price and by a weaker U.S. dollar . The Johannesburg Stock Exchange's Top-40 index (.JTOPI), opens new tab was last up 0.6%. The benchmark 2035 government bond was stronger, as the yield fell 4 basis points to 10.095%.
CNA
05-06-2025
- Business
- CNA
Philippine annual inflation at 1.3% in May
MANILA :Philippine annual inflation wasin May, just below the previous month's 1.4 per cent rate and the lowest reading since November 2019, the statistics agency said on Thursday. Economists in a Reuters poll had expected annual inflation of 1.3 per cent last month, within the central bank's forecast range of 0.9 per cent to 1.7 per cent. The statistics agency said the pace of increase of housing, water, electricity and some fuel costs moderated in May. The annual core inflation rate, which strips out volatile food and energy prices, was 2.2 per cent last month.
Bloomberg
15-05-2025
- Business
- Bloomberg
Colombian Economy Beats Forecasts With 2.7% Expansion
Colombia 's economy grew at the fastest pace in two years as record high coffee prices boosted the agricultural sector. Gross domestic product expanded 2.7% in the first quarter from a year earlier, the statistics agency said Thursday. That compares to the 2.5% forecast of analysts surveyed by Bloomberg.
