The latest round of economic data provides clues on how well the economy performed in the third quarter (July–September) of the year.

Monthly indicators largely positive

Except for electricity generation, freight transport, and road passenger transport, business indicators were upbeat in the third quarter (Figure 1). Mining activity expanded by 2,5%, with platinum group metals driving most of the upward momentum. The mining industry also produced more manganese ore, coal, chromium ore and copper. On the downside, there was a drop in the production of iron ore, nickel, gold and diamonds.

Manufacturing recorded modest growth of 0,1%. Four of the ten divisions expanded, with food & beverages the most significant positive contributor. The division ‘furniture & other manufacturing’ rose sharply by 8,4%. Wood, paper, publishing & printing was the largest drag on overall growth, declining by 5,4%.

Retail trade sales strengthened by 0,9%, with six of the seven retail categories recording positive growth. General dealers, which includes supermarkets, was the largest positive contributor. The only category that disappointed was textiles & clothing, declining by 0,6%.

Motor trade sales grew by 1,7%, mainly driven by higher new vehicle sales.

Other notable economic data published in November

• Quarterly Labour Force Survey: Stats SA introduced new methodological updates to its labour statistics. Read more on these updates and the latest results here.
• Physical Energy Flow Accounts for South Africa: Where does the country source its energy from, and where is energy used? The physical energy flow accounts discussion document provides some insights into these questions and includes several key energy indicators. Read more here.
• Agriculture survey 2024: The latest round of Stats SA’s annual commercial agricultural survey provides an overview of finances and employment, and touches on data related to small, medium and micro farmers. The statistical release and presentation are available for download here.
• Financial statistics of consolidated general government: This annual release outlines details on general government revenue and expenses. A breakdown of spending in 2023/24 is available here.
• Annual financial statistics: A 2024 update of detailed financial data on the formal business sector, broken down by industry and enterprise size. Download the statistical release and Excel data here.

What to look forward to in December

Watch out for the next gross domestic product (GDP) estimates that will be released on 2 December at 11:30. This will provide a comprehensive overview of economic activity in the third quarter of the year. The results will be published here.

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