Total New Vehicle Sales y/y measure a change in the number of vehicles sold by South African retailers in the reported month compared to the same month a year ago.
The National Association of Automobile Manufacturers of South Africa (NAAMSA) publish monthly sales data broken down by vehicle types: cars, small and medium commercial vehicles, heavy trucks and buses. The statistics includes domestic sales and exports. The latter accounts for a larger part in total sales. In addition, the report contains forecast values for the next year. The automotive industry makes a significant contribution to the country's GDP and employment, so the indicator reflects the state of the economy. The indicator growth demonstrates consumption growth and a favorable economic situation in the country. The index growth can have a positive effect on ZAR quotes.
The chart of the entire available history of the "South Africa Total New Vehicle Sales y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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