Category Archives: Economic growth

Inflation remains low in January

The annual rate of consumer inflation was 3,2% in January, slightly up from December’s reading of 3,1%. The monthly increase in the consumer price index was 0,3%, following 0,2% between November and December. The monthly changes in the CPI have remained within a range of 0% to 0,3% since August 2020. Food and non-alcoholic beverages,   read more »


Love it or hate it – the rand turns 60

Love it or hate it – the rand turns 60

While many couples will be celebrating Valentine’s Day this Sunday, 14 February, historians may have a different take on the day. 14 February 2021 is the 60th anniversary of the introduction of the rand as South Africa’s currency. Following the adoption of recommendations of the Decimal Coinage Commission in 1958, the British-styled pounds, shillings and   read more »


Inflation for 2020 was the lowest in 16 years and the second lowest in 51 years

Inflation for 2020 was the lowest in 16 years and the second lowest in 51 years

The December 2020 Consumer Price Index (CPI) release concludes the data points for the entire calendar year. The average annual inflation rate for 2020 was 3,3%. This is the lowest annual average rate since 2004 (1,4%) and the second lowest since 1969 (3,0%). One of the reasons for low inflation in 2004, according to the   read more »


Three facts about small business turnover in South Africa

Three facts about small business turnover in South Africa

As government introduces new legislation to further support small, medium and micro-sized enterprises (SMMEs), recently released data from the 2019 Annual Financial Statistics (AFS) survey shows the growing role that small businesses play in the formal business sector. The National Small Enterprise Amendment Bill 2020, gazetted recently, outlines the establishment of an ombud service that   read more »


Jobs in the SA formal sector up in the 3rd quarter of 2020

Jobs in the SA formal sector up in the 3rd quarter of 2020

According to the Quarterly employment statistics (QES) survey released by Statistics South Africa (Stats SA), jobs in the formal non-agricultural sector increased by 75 000 in the third quarter of 2020. This brings the total number of persons employed in the formal non-agricultural sector in South Africa to approximately 9,6 million. According to the report, formal   read more »


GDP rallies as lockdown restrictions ease

GDP rallies as lockdown restrictions ease

South Africa’s economy rebounded in the third quarter of 2020 (July–September), coinciding with the easing of COVID-19 lockdown restrictions. All industries recorded an increase in economic activity compared with the second quarter, with manufacturing, trade and mining leading the charge. Businesses were supported by an increase in both exports and household spending. Gross domestic product   read more »


Inflation edges up as food and drink prices bite

Inflation edges up as food and drink prices bite

Annual consumer inflation hit a seven-month high in October, driven largely by rising prices for food and non-alcoholic beverages. Headline inflation was 3,3%, the biggest annual rise since March when the rate was 4,1%. The monthly increase in October was 0,3%, edging up from 0,2% recorded in both September and August. Food and drink inflation   read more »


An update on municipal finances for the quarter ending June 2020

An update on municipal finances for the quarter ending June 2020

Even though South Africa’s 257 municipalities increased their spending in the quarter ended June 2020, the rise was slower than increases recorded in previous quarters. Spending increases by 4,6% Local government spent R105,9 billion in the quarter ended June 2020, up by R4,6 billion (or 4,6%) compared with the quarter ended June 2019, according to the latest   read more »


Significant movements into the labour force in the 3rd quarter of 2020

Significant movements into the labour force in the 3rd quarter of 2020

In the 3rd quarter of 2020 there were significant movements in the South African labour market. According to the Quarterly Labour Force Survey (QLFS), a large number of persons moved from the “other not economically active” category to “employed” and “unemployed” status between quarter two and quarter three of 2020. The movement was proportionately more   read more »


Public-sector infrastructure investment falls for a third year

Public-sector infrastructure investment falls for a third year

The economic downturn and reduced levels of government infrastructure investment have taken a heavy economic toll on capital spending by the public sector. Public-sector spending on infrastructure (referred to as capital expenditure) decreased for a third consecutive year, falling from R250 billion in 2018 to R231 billion in 2019 according to Stats SA’s latest Capital expenditure by   read more »