Category Archives: Economic growth

Provincial government finances: the impact of COVID-19

Provincial government finances: the impact of COVID-19

South Africa’s 122 provincial government departments spent R613,6 billion in 2020/21, according to the latest Financial statistics of provincial government statistical release. This is R16,9 billion more than the R596,8 billion recorded in 2019/20, representing a rise of 2,8%.1 The 2,8% rise is muted compared with the previous three years that recorded increases of around 7,0%. A closer   read more »


SA formal non-agricultural sector employment drops by 1,2% in Q2 of 2022

SA formal non-agricultural sector employment drops by 1,2% in Q2 of 2022

According to the Quarterly Employment Statistics (QES, Q2:2022) survey released by Statistics South Africa (Stats SA), total employment in the formal non-agricultural sector decreased by 119 000 in the second quarter of 2022, bringing the level of total employment to approximately 9,9 million. The survey showed that jobs increased by 74 000 between June 2021 and   read more »


South African GDP declines by 0,7%

South African GDP declines by 0,7%

After two consecutive quarters of positive growth, real gross domestic product (GDP) decreased by 0,7%1 in the second quarter of 2022 (Q2: 2022). The devastating floods in KwaZulu-Natal and load shedding contributed to the decline, weakening an already fragile national economy that had just recovered to pre-pandemic levels. Manufacturing the biggest drag on GDP The flooding   read more »


Economic recovery from COVID-19: Not all countries are equal

Economic recovery from COVID-19: Not all countries are equal

The South African economy took almost two years to recover from the worst of the COVID-19 pandemic. How does this compare with other countries? After plummeting in the second quarter of 2020 – when lockdown restrictions were at their most stringent – South African gross domestic product (GDP) clawed itself back to pre-pandemic levels in   read more »


Nearly half of SA women are out of the labour force in Q2:2022

Nearly half of SA women are out of the labour force in Q2:2022

Globally, women who are looking for work and are available to work have a tougher time finding work than men. This phenomenon is more pronounced in South Africa, with higher unemployment rates for the general population as compared to the rest of the world. In 2022, 47,0% of South African women were recorded as economically   read more »


Don’t throw in the towel!

Don’t throw in the towel!

Your chances of finding a job are much higher if you continue your search for employment. Estimates from the Quarterly Labour Force Survey, released by Statistics South Africa, show that the likelihood of finding employment is much higher if you continue to search for work or are available to take up a job or start   read more »


Consumer inflation surges to a 13-year high

Consumer inflation surges to a 13-year high

Annual consumer inflation jumped to 7,4% in June from 6,5% in May, mainly driven by rising transport and food prices. The June rate is the highest reading since May 2009 (8,0%) when the economy was facing the headwind of currency depreciation during the global financial crisis. The Consumer Price Index (CPI) increased by 1,1% between   read more »


What do South African households look like?

What do South African households look like?

In 2021, South Africa had a population of approximately 60,5 million people. Although some South Africans resided in institutions such as hospitals and old age homes, SA had an estimated 18 million households, with an average household size of 3,34 persons. A quick glance at the General Household Survey, 2021 (GHS) released by Statistics South   read more »


Consumer inflation jumps to a 5-year high

Consumer inflation jumps to a 5-year high

Annual consumer price inflation quickened to 6,5% in May from 5,9% in April and March, breaking through the upper limit of the South African Reserve Bank’s monetary policy target range. This is the highest reading since January 2017 when the rate was 6,6%. The monthly change in the consumer price index (CPI) was 0,7%. The   read more »


After two years, GDP returns to pre-pandemic levels

After two years, GDP returns to pre-pandemic levels

South African gross domestic product (GDP) expanded by 1,9% in the first quarter of 2022, representing a second consecutive quarter of upward growth.1 The size of the economy is now at pre-pandemic levels, with real GDP slightly higher than what it was before the COVID-19 pandemic. This release covers the first quarter of the year   read more »