Australia’s terms of trade experience has also been stronger than Canada’s. 4  BIS central bankers’ speeches  Let us then take a look at some of the potential pressure points that people sometimes worry about. The first is the Chinese economy. One of the data series people pay a lot of attention to is the Chinese version of the so-called “Purchasing Managers’ Index”.
Added to this has been the generally weak global growth outlook, particularly in some of South Africa’s major trading partners, including the eurozone and China, which also offsets the positive impact arising from the decline in oil prices.