Consumer inflation in the US increased slightly in February compared to January. In March, US President Donald Trump imposed tariffs on steel and aluminum imports. Chinese officials introduced a special plan to boost the economy and are considering various measures to stabilise the Chinese stock market. On the domestic front, the US issued an executive order to immediately suspend funding for the President’s Emergency Plan for AIDS Relief (PEPFAR) to South Africa.

Global economic trends presented a mixed picture in the latest quarter. US economic growth slowed in the fourth quarter, but consumer spending grew over the same period. On the domestic front, South Africa saw positive developments, with retail sales expanding both in the final quarter and over the year. Encouragingly, the unemployment rate declined across all demographics, including youth, as job creation gained momentum across multiple sectors.