The dollar stopped firming, and combined with high metals prices this has been conducive to a stronger rand.

In the low interest rate environment globally, where there is hardly any yield, South Africa still offers value to foreign investors, with relatively low risk.

If you look at the subcategories, you see a backlog in sales orders while inventory levels are down and purchasing commitments are up,

A rise in global demand, the relatively low cost of capital and a weaker rand have all helped lift manufacturing.

Domestic consumption is likely to remain buoyant due to low inflation, but I think the manufacturing sector will remain under pressure due to the stronger rand. Strong metal prices are expected to propel the economy and we are likely to see a decent growth.

There's a lot of apprehension ahead of the (Reserve Bank's) MPC. Although it's widely expected interest rates will stay unchanged, guys will be looking to how at how the Reserve Bank is concerned about oil prices and consumer spending.

The weaker rand is causing some of the bulls to lock in profits. It could have been worse had it not been for the slightly better-than-expected inflation numbers and the fact that oil prices have started to drift lower.

Bonds are looking slightly overbought. Yields have come down a long way and its hard for them to push lower. We are seeing a bit of consolidation and wait for the Americans to return,

What is remarkable about this growth is that it is coming off a high base.

We're targeting 6.20/dlr though that will be a tough level to break, but if it does it may target to 6.14/dlr.