Global Economic Trends and Local Insights

August presented a mixed global picture. The US recorded stronger job creation, while China’s recovery remained uneven and Eurozone inflation increased as energy prices rose. Despite these cross-currents, many global equity markets ended the month higher. Closer to home, SA inflation slowed in July as fuel prices fell, and private-sector activity expanded slightly in August. The rand strengthened and the local share market delivered a strong headline return, although gains were concentrated in resources companies.