{"id":16517,"date":"2023-08-02T15:10:42","date_gmt":"2023-08-02T13:10:42","guid":{"rendered":"https:\/\/www.statssa.gov.za\/?p=16517"},"modified":"2023-08-02T15:16:33","modified_gmt":"2023-08-02T13:16:33","slug":"economic-wrap-up-for-july-2023","status":"publish","type":"post","link":"https:\/\/www.statssa.gov.za\/?p=16517","title":{"rendered":"Economic wrap-up for July 2023"},"content":{"rendered":"<p>If you\u2019ve missed any recent economic data from Stats SA, we\u2019ve got you covered. Here is a quick rundown of what you need to know.<\/p>\n<p><strong>These cities rule our manufacturing industry<\/strong><\/p>\n<p>It\u2019s not often that industry data are published for districts. Detailed spatial data require large surveys with large samples, which can be expensive. That is why the high level of detail covered by <a href=\"https:\/\/www.statssa.gov.za\/?p=16493\">two recent manufacturing reports<\/a> is a one-in-four-year occurrence. The reports provide insight into the spread of manufacturing across the country in terms of employment, finances and production.<\/p>\n<p>Selected variables are available on a district level. These show that activity is highly concentrated in four cities. The City of Ekurhuleni, the City of Johannesburg, the City of Cape Town and eThekwini account for a hefty share \u2013 just over half \u2013 of South African manufacturing sales. Collectively, they also accommodate almost 60% of the national manufacturing workforce.<\/p>\n<p>The City of Tshwane might be home to the best rugby team, but it ranks fifth in both manufacturing employment and sales of goods &amp; services.<\/p>\n<p><strong>Monthly indicators: Mining and retail retreat while manufacturing moves forward<\/strong><\/p>\n<p>Turning to the monthly manufacturing release, national manufacturing production recorded its second successive month of positive year-on-year growth, <a href=\"https:\/\/www.statssa.gov.za\/?page_id=1854&amp;PPN=P3041.2&amp;SCH=73365\">expanding by 2,5% in May<\/a>. Eight of the ten manufacturing divisions recorded a rise in output, led by the automotive division that saw a notable increase in the production of parts and accessories.<\/p>\n<p>On the mining front, production eased <a href=\"https:\/\/www.statssa.gov.za\/?page_id=1854&amp;PPN=P2041\">by 0,8% year-on-year in May<\/a>. Platinum group metals and diamonds were the biggest factors behind the decline. Gold, however, continued to shine on the upside, recording a fifth consecutive month of positive year-on-year growth.<\/p>\n<p>South African retail trade sales shrank for a sixth consecutive month, <a href=\"https:\/\/www.statssa.gov.za\/?page_id=1854&amp;PPN=P6242.1\">declining by 1,4% year-on-year in May<\/a>. Five of the seven retailer groups were weaker, with general dealers and hardware stores driving much of the downward momentum. Bucking the trend, textiles &amp; clothing continued its positive run, registering a 12<sup>th<\/sup> consecutive month of year-on-year growth.<\/p>\n<p>Figure 1 provides a summary of the latest set of monthly indicators.<\/p>\n<p><a href=\"https:\/\/www.statssa.gov.za\/wp-content\/uploads\/2023\/08\/EconPic1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-16518\" src=\"https:\/\/www.statssa.gov.za\/wp-content\/uploads\/2023\/08\/EconPic1-300x213.jpg\" alt=\"EconPic1\" width=\"300\" height=\"213\" srcset=\"https:\/\/www.statssa.gov.za\/wp-content\/uploads\/2023\/08\/EconPic1-300x213.jpg 300w, https:\/\/www.statssa.gov.za\/wp-content\/uploads\/2023\/08\/EconPic1-768x546.jpg 768w, https:\/\/www.statssa.gov.za\/wp-content\/uploads\/2023\/08\/EconPic1-1024x728.jpg 1024w, https:\/\/www.statssa.gov.za\/wp-content\/uploads\/2023\/08\/EconPic1-100x71.jpg 100w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p><strong>Inflation continues to lose steam<\/strong><\/p>\n<p>Inflation continued on a downward trend in June, much to the relief of burdened consumers. Annual consumer inflation <a href=\"https:\/\/www.statssa.gov.za\/?p=16483\">cooled to its lowest reading in 20 months<\/a>, mainly the result of softer fuel prices and lower price increases for food. June\u2019s print is significant \u2012 it\u2019s the first time since April\u00a02022 that consumer inflation is below the 6% upper limit of the South African Reserve Bank\u2019s monetary policy target range.<\/p>\n<p>Inflation at the factory gate also continued to ease, with the annual rate <a href=\"https:\/\/www.statssa.gov.za\/?page_id=1854&amp;PPN=P0142.1\">slowing to 4,8% in June<\/a> from 7,3% in May. June&#8217;s reading is the lowest since February\u00a02021 when the rate was 4,0%.<\/p>\n<p><strong>What to look forward to in August<\/strong><\/p>\n<p>There are several notable statistical releases to look out for this month. The latest <em>Quarterly Labour Force Survey<\/em> <em>(QLFS)<\/em> is due for release on 15\u00a0August. This will provide employment and unemployment data for the second quarter of 2023. The release will be published <a href=\"https:\/\/www.statssa.gov.za\/?page_id=1866&amp;PPN=P0211&amp;SCH=73571\">here<\/a>.<\/p>\n<p>The last week of the month will see the release of two reports related to government. The first, the <em>Non-financial census of municipalities<\/em>, will unveil data on municipal services, bucket toilets, indigent households and local government employment. This will be published on 31\u00a0August and will be available <a href=\"https:\/\/www.statssa.gov.za\/?page_id=1866&amp;PPN=P9115&amp;SCH=73213\">here<\/a>.<\/p>\n<p>The second report, published on the same day, will cover financial data on extra-budgetary accounts and funds (EBAs). The 256 EBAs form an important arm of government that provides services for government or to the public on behalf of government. Examples include the South African Revenue Service and the Unemployment Insurance Fund. The report will be published <a href=\"https:\/\/www.statssa.gov.za\/?page_id=1866&amp;PPN=P9102&amp;SCH=73216\">here<\/a>.<\/p>\n<p>To keep up to date with other upcoming releases, see our <a href=\"https:\/\/www.statssa.gov.za\/?page_id=1874\">publication schedule<\/a>. For a comprehensive list of products and releases from Stats SA, <a href=\"https:\/\/www.statssa.gov.za\/order_publications\/OrderPublications.pdf\">download our catalogue<\/a>.<\/p>\n<p>For a monthly overview of economic indicators and infographics, catch the latest edition of the Stats Biz newsletter <a href=\"https:\/\/www.statssa.gov.za\/?page_id=6048\">here<\/a>.<\/p>\n<p>Similar articles are available on the Stats SA website and can be accessed <a href=\"https:\/\/www.statssa.gov.za\/?page_id=624\">here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you\u2019ve missed any recent economic data from Stats SA, we\u2019ve got you covered. Here is a quick rundown of what you need to know. These cities rule our manufacturing industry It\u2019s not often that industry data are published for districts. Detailed spatial data require large surveys with large samples, which can be expensive. That&nbsp; &nbsp;<a href=\"https:\/\/www.statssa.gov.za\/?p=16517\" class=\"btn btn-mini btn-info pull-right\" style=\"margin:10px 30px;\">read more &raquo;<\/a><\/p>\n<div class=\"clear\"><\/div>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30,6],"tags":[],"class_list":["post-16517","post","type-post","status-publish","format-standard","hentry","category-economic-growth","category-economy-data-stories"],"_links":{"self":[{"href":"https:\/\/www.statssa.gov.za\/index.php?rest_route=\/wp\/v2\/posts\/16517","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.statssa.gov.za\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.statssa.gov.za\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.statssa.gov.za\/index.php?rest_route=\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.statssa.gov.za\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16517"}],"version-history":[{"count":1,"href":"https:\/\/www.statssa.gov.za\/index.php?rest_route=\/wp\/v2\/posts\/16517\/revisions"}],"predecessor-version":[{"id":16519,"href":"https:\/\/www.statssa.gov.za\/index.php?rest_route=\/wp\/v2\/posts\/16517\/revisions\/16519"}],"wp:attachment":[{"href":"https:\/\/www.statssa.gov.za\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.statssa.gov.za\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.statssa.gov.za\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}