GTC WM Trendline – September 2018

Domestic: Destination SA

Locally, the JSE ALSI declined -2.17% as concerns around EM markets led to an outflow of capital and the Rand came under further pressure, declining 3.14% over the quarter. Despite Financials (+4.20%) and Resources(4.60%) both being up, this failed to offset the negative impact of Industrials, which declined 7.82%.Macro-economic data remained unsupportive with the unemployment rate increasing by 0.5% to 27.2% in Q2 2018. The number of discouraged job seekers rose to 2.9 million people. Manufacturing lost 55 000 jobs year-on-year, with basic metals and food production the main constituents.

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