JOHANNESBURG: The South African rand was flat in early trade on Monday ahead of the release ​of a local manufacturing purchasing managers’ index (PMI) ‌and vehicle sales data for April.

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At 0639 GMT the rand traded at 16.6075 against the dollar , broadly unchanged from ​its previous close.

An Absa PMI survey is set ​to be released at 0900 GMT and will ⁠shed light on manufacturing conditions in Africa’s most ​industrialised economy.

South African manufacturing sentiment remained weak in March, ​with respondents expressing concern about the impact of the Iran war although business activity is yet to take a serious knock.

Investors ​will then turn their focus to vehicle sales (ZAVEHY=ECI), opens new tab ​data due around 1200 GMT, which will give a snapshot ‌of ⁠consumer demand for big-ticket items.

Nedbank economists, in a research note, said they expect car sales to contract by 16% in April, largely reflecting more public holidays ​than in March ​and softer ⁠demand amid uncertainty over the war in Iran.

“Higher fuel prices and a shifting ​interest rate outlook are likely to ​weigh on ⁠consumer confidence and, in turn, vehicle demand. Even so, the decline comes off a high base,” said ⁠the ​note.

South Africa’s benchmark 2035 government bond ​was stronger in early deals, as the yield fell 3.5 basis ​points to 8.76%.