ECONOMIC WEEK AHEAD

ruary from 51 in January, 48 in December and 41 in November.

The sales volumes index was steady at 43 in February and January from 41 in December, 49 in November and 56 in October, while the new orders index edged up to 41 in February after being steady at 40 in January and December from 45 in November and 41 in October.

The input price index fell to 61 in February from 65 in January, 66 in November and 72 in October.

The sales price dipped to 48 in February from 50 in January and 51 in December. This was the first time since April 2009 (after the global recession of 2008/09) that, according to respondents, sales prices were declining – ie below the 50 index mark.

The employment sub-index was steady at 46 in February and January after being steady at 43 in December, November, October, September, August and July from 47 in June, 49 in May and 48 in April.

Mining production rose by 2.5% y/y in January after a 4.0% gain in 2017.

The mood at the Mining Indaba and the start of Gamsberg production in mid-2018 should result in a strong increase in 2018 as well. In January, iron ore production surged by 25.1% y/y, “other” non-metallic minerals soared 27.1% y/y, but precious metals were weaker with platinum group metals falling by 13.6% y/y and gold down 7.7% y/y.

PICTURE: TIRO RAMATLHATSE Mining data is set to be the centre of attention next week. Mining production rose by 2.5% year-on-year in January after a 4.0% gain in 2017.