Tourism: the state of post-COVID-19 recovery
The economic fallout from COVID-19 affected many industries, including South Africa’s tourism sector. A decline in revenue from domestic (resident) visitors and inbound (non-resident) visitors, exacerbated by stringent travel restrictions, saw a fall in tourism trips, tourism-related expenditure, and employment. The sector has shown signs of recovering from the pandemic’s repercussions. The latest Tourism Satellite read more »
Economic growth muted as 2023 draws to a close
South Africa’s economy grew by a marginal 0,1%1 in the fourth quarter (October–December), taking the annual growth rate for 2023 to 0,6%. Real gross domestic product (GDP) in the fourth quarter was R1 158 billion. This is above the pre-COVID-19 reading of R1 150 billion, but still below the peak of R1 161 billion recorded in the third quarter read more »
Economic wrap-up for February 2024
February is a highlight of Stats SA’s publication schedule, with the release of various economic indicators for December concluding the results for the previous year. The preliminary data point to a lacklustre 2023, with several indicators in the red (Figure 1). Mining production, electricity generation, construction (the value of buildings completed as reported by large municipalities), read more »
Consumer inflation inches higher in January
After two consecutive months of decline, annual consumer inflation crept up in January, rising to 5,3% from 5,1% in December. The monthly change in the consumer price index (CPI) was 0,1% in January. The categories in the CPI basket with the largest annual price increases were restaurants & hotels at 8,0%, food & non-alcoholic beverages read more »
Inflation eases for a second consecutive month
Annual consumer price inflation pulled back in December, easing to 5,1% from 5,5% in November and 5,9% in October. The consumer price index (CPI) was unchanged month-on-month in December. Inflation was softer in the second half of 2023 The December release concludes the results for 2023. The average inflation rate for the year was 6,0%, read more »
Consumer inflation slowed in November
Following a three-month upswing, headline consumer inflation cooled to 5,5% in November from 5,9% in October. The monthly change in the consumer price index (CPI) was -0,1%. The decline was mainly driven by a monthly decrease of 5,5% in the fuel price index, which drove the annual rate for fuel lower to 1,8% in November read more »
GDP weakens in the third quarter
After two consecutive quarters of growth, South African real gross domestic product (GDP) contracted by 0,2% in the third quarter (July–September) of 2023.1 The contributions to the performance of the economy were evenly spread between the industries on the production side of the economy. The contributions ranged from -0,3 of a percentage point to +0,1 read more »
Economic wrap-up for November 2023
Stats SA published 25 statistical releases in November. Here is a quick overview of the latest economic indicators. Employment surpasses pre-COVID-19 levels Covering a sample of about 30Â 000 households across the country, the Quarterly Labour Force Survey reported a rise in employment figures in the South African workforce. The economy created 399Â 000 jobs in the read more »
Consumer inflation accelerates to 5,9%
Annual consumer inflation increased for a third consecutive month in October, verging on the upper limit of the South African Reserve Bank’s inflation target range. The headline rate was 5,9%, up from 5,4% in September. Consumer prices increased on average by 0,9% between September and October, the highest monthly rise in three months. The following read more »
November 2023
Since 2014, the number of people affected by hunger has been increasing. The United Nations (UN) estimates that 828 million people globally were affected by hunger in 2021. Yet food loss and waste is a cause for concern. Every year, 1,6 billion tonnes of food is wasted across the world of which 1,3 billion tonnes read more »