US trade deals move in the right direction; SA’s manufacturing sector weighs on the economy

The US has agreed to cut US import tariffs on products from the UK from the previously proposed level, with certain exclusions, in a deal that is likely to set the tone for other US negotiations. This will help to ease concerns about US inflation. Meanwhile, in SA, manufacturing data for March was down a disappointing 0.8% year on year, despite more stable electricity supply. Weakness in the manufacturing sector is likely to drag down GDP growth for the year.