Vaccine rollout day 263
New cases  4373
New Deaths  21
Recovery Rate 96,0%
Vaccines Administered 25,619,891

As of today the cumulative number of COVID19 cases identified in SA is 2 968 052 with 4 373 new cases reported. Today 21 deaths have been reported bringing the total to 89 843 deaths. The cumulative number of recoveries now stand at 2 849 558 with a recovery rate of 96,0%.  This is traditionally the season to be merry, but the Covid 19 Omicron variant has the world shivering.  In Durban a new multi million passenger terminal is opening on Monday 06th December 2021, welcoming the MSC Orchestra back to Durban as her home base for the “season”.  At the moment there are more questions than answers.

By the close of trade on Tuesday 30th November 2021, the South African rand strengthened against the US dollar.

  • In South Africa, the unemployment rate recorded an increase in 3Q21.
  • In the US, the house price index advanced in September. U.S. consumer confidence fell to a nine-month low in November, as inflation concerns gripped the country. The confidence numbers were read before news of the omicron variant reached consumers, so even bigger dips in confidence may be in store.
  • The S&P/Case Shiller’s home price index rose less than expected in September.  Consumer confidence eased to a nine-month low in November, on account of continued worries about soaring energy prices.  The Chicago Fed purchasing managers index (PMI) dropped more than expected in November.
  • Federal Reserve Chairman Jerome Powell indicated Tuesday that the central bank could step up the removal of its efforts to boost the economy. In an appearance before a Senate committee, the Fed chief said he thinks reducing the pace of monthly bond buys can move quicker than the $15 billion a month schedule announced earlier this month. Powell said he expects the issue to be discussed at the December meeting.
  • China’s factory activity fell back into contraction in November as subdued demand, shrinking employment and elevated prices weighed on manufacturers, a business survey showed on Wednesday. The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) fell to 49.9 in November from 50.6 the month before, versus analyst expectations of 50.5 in a Reuters poll.
  • The yield on benchmark government bonds fell yesterday. The yield on 2026 bond fell to 8.04%. Further, the yield on 2023 bond declined to 5.05%, while that for the longer-dated 2030 issue fell to 9.75%.

In early trade on Wednesday 1st December 2021, the US dollar is trading lower against the South African rand at R15.8268, while the euro is trading lower at R17.9246.  The British pound has declined against the South African rand to trade at R21.0676.

By the close of trade on Tuesday 30th November 2021, the euro declined against most of the major currencies.

  • A typical UK family will spend £1,700 more per year on household costs in 2022, according to a forecast for BBC Panorama. The analysis, conducted by the Centre for Economics and Business Research (CEBR), projected the inflation rate would rise to 4.6% by Christmas. This rise is mainly due to higher fuel and energy prices. Analysts say the full extent of rising costs is not yet being passed on to customers by supermarkets. They say supermarkets are trying to keep prices constant over the festive period, even if this means absorbing some of the costs.
  • In Germany, unemployment dropped in November, as companies hired more employees to complete pending orders.
  • Inflation in the eurozone rose to record highs in November, amid soaring energy prices.
  • Japan’s factory activity grew in November at the fastest pace in nearly four years, as manufacturers’ output and order books improved with an easing of critical supply bottlenecks. Businesses, however, said cost pressures remained an issue as materials shortages and delivery delays caused input prices to surge the most in 13 years. The final au Jibun Bank Japan Manufacturing Purchasing Managers’ Index (PMI) in November rose to 54.5 on a seasonally adjusted basis, marking its fastest pace of expansion since January 2018.

In early trade on Wednesday 1st December 2021, the euro slipped against the US dollar to trade at $1.1346, while it has weakened against the British pound to trade at GBP0.8576.