South Africa Economic Outlook
March 20, 2018The latest data suggests that the South African economy has turned a corner. National accounts data for the fourth quarter of 2017 surprised on the upside, with a sharp quarter-on-quarter expansion driven by private consumption and fixed investment. In January, manufacturing output expanded for the fourth consecutive month, recording its sharpest increase since June 2016. Survey-based data for February was equally positive; there was a notable jump in the Standard Bank PMI and strong business confidence. Improved confidence in the economy among businesses largely reflected the political developments since Cyril Ramaphosa took over as head of the ANC in December and subsequently replaced Jacob Zuma as president. Ramaphosa, who was sworn in on 15 February, has taken steps to change the direction of economic policy, including a cabinet reshuffling which saw the reappointment of Nhlanhla Nene as finance minister and a budget that will hike taxes to contain the bloated fiscal deficit and potentially help avert a credit rating downgrade.
South Africa Economic GrowthThe presidency of Cyril Ramaphosa should contribute to a recovery in business and consumer confidence, in turn helping buoy growth in private consumption and fixed investment. Higher prices for commodities will sustain growth in mining and in the external sector. FocusEconomics panelists expect the economy to grow 1.7% in 2018, which is up 0.2 percentage points from last month’s forecast, and 1.8% in 2019.
South Africa Economy Data
5 years of South Africa economic forecasts for more than 30 economic indicators.
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South Africa Facts
|Bond Yield||8.01||0.29 %||Mar 22|
|Exchange Rate||11.89||-0.21 %||Mar 22|
|Stock Market||0.1||-0.44 %||Mar 22|
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South Africa Economic News
March 21, 2018
Consumer prices rose 0.8% in February over the previous month, coming in above the 0.3% month-on-month increase observed in January.
South Africa: Government unveils market-friendly budget; hopes to avert credit rating downgrade on 23 March
March 19, 2018
President Cyril Ramaphosa’s government faced its first major test on 21 February, just six days after Ramaphosa took office, with the unveiling of the 2018 budget.
March 6, 2018
According to data released by Statistics South Africa, growth in economic activity accelerated from 2.3% in quarter-on-quarter seasonally-adjusted annualized (SAAR) terms in the third quarter to a 3.1% qoq SAAR increase in the fourth quarter.
March 5, 2018
The Standard Bank Purchasing Managers’ Index (PMI) rose from 49.0 points in January to 51.4 points in February.
February 21, 2018
Consumer prices rose 0.3% in January over the previous month, coming in below the 0.5% month-on-month increase in December.