After contracting by a revised 1,1% in the fourth quarter of 2022, real gross domestic product (GDP) edged higher in the first quarter of 2023 (January‒March), expanding by an estimated 0,4%.1 The manufacturing and finance industries were the major drivers of growth on the supply side of the economy. The demand side was lifted by   read more »

Stats SA published 21 statistical releases in the month of May, providing valuable insight into the current state of our economy. Here is a brief rundown of important indicators. Inflation edged lower in April Despite the ongoing stresses of rising prices and escalating costs of debt, there were some hopeful signs from the latest inflation   read more »

The groups that are most susceptible to economic hardship are experiencing large increases in the cost of living, according to the latest inflation data. Together with the headline consumer price index (CPI), Stats SA publishes inflation rates for each province, for ten different income groups and for pensioners. The basket for each of these indices   read more »

Annual consumer inflation slowed to 6,8% in April from 7,1% in March. This is the lowest reading since May 2022, when the rate was 6,5%. The monthly change in the consumer price index (CPI) was 0,4% in April 2023. Food and non-alcoholic beverages Annual inflation for food and non-alcoholic beverages eased to 13,9% in April from 14,0%   read more »

After a drastic drop in tourist arrivals in 2020 and 2021, the volume of tourist arrivals in South Africa is showing improvement. The Tourism 2022 report released by Statistics South Africa shows that the volume of tourists dropped by 72,6% from 10 228 593 in 2019 to 2 802 320 in 2020 and declined by 19,5% between 2020 and   read more »

South Africa’s unemployment rate in the first quarter of 2023 was recorded at 32,9 %, and is among the highest in the world. According to the Quarterly Labour Force Survey (QLFS), this is an increase of 0,2 of a percentage point compared to the fourth quarter of 2022. While the unemployment rate may be high,   read more »

Headline consumer inflation edged higher to 7,1% in March from 7,0% in February and 6,9% in January. The monthly change in the consumer price index (CPI) was 1,0% in March, the most significant monthly rise since July 2022 when it was 1,5%. Food & non-alcoholic beverages and transport were the main drivers behind the annual   read more »

According to the Quarterly Employment Statistics (QES, Q4:2022) survey released by Statistics South Africa (Stats SA), total employment in the formal non-agricultural sector increased by 48 000 in the fourth quarter of 2022, bringing the level of employment to almost 10 million. The survey showed that 94 000 jobs were lost between December 2021 and December   read more »

Annual consumer inflation rose for the first time in four months, edging to 7,0% in February from 6,9% in January. Food and non-alcoholic beverages and transport were the main contributors to the inflation rate in February. The consumer price index (CPI) rose by 0,7% between January and February, representing the largest monthly increase since July   read more »

After rallying in the third quarter of 2022, South African gross domestic product (GDP) declined by 1,3% in the fourth quarter (October‒December).1 Growth was dragged lower mainly by finance, trade, mining, agriculture, manufacturing and general government services. Finance and trade the biggest drags on growth Seven of the ten industries contracted in the fourth quarter.   read more »