South Africa Economic Outlook
November 17, 2020
The economic scenario likely remained challenging in Q3, after the historic plunge in activity in Q2. While the pace of decline moderated from Q2 due to the gradual easing of restrictions, industrial output contracted relatively sharply in the quarter. Meanwhile, business sentiment remained entrenched in negative territory in the same period, likely holding back capital spending. Turning to Q4, however, the manufacturing PMI returned to growth for the first time in 18 months, hitting an over two-and-a-half-year high amid improved demand dynamics. Moreover, despite a stubbornly high number of Covid-19 cases, authorities announced the reopening of borders to all international travelers on 11 November, in a bid to revive the ailing tourism industry. In other news, on 28 October, the government tabled its medium-term budget statement, reaffirming its commitment to fiscal consolidation and debt stabilization.South Africa Economic Growth
After this year’s projected contraction at the hands of Covid-19, the economy is seen rebounding in 2021 as domestic and foreign demand revive. That said, high unemployment and persistent electricity shortages are likely to weigh on growth, while frail fiscal metrics and a ballooning public debt stock pose additional risks. FocusEconomics panelists see the economy expanding 3.6% in 2021, which is down 0.1 percentage points from last month’s forecast, and 2.5% in 2022.South Africa Economy Data
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South Africa Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 8.26 | 0.29 % | Dec 31 |
| Exchange Rate | 13.98 | -0.21 % | Dec 31 |
| Stock Market | 0.1 | -0.44 % | Jan 06 |
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South Africa Economic News
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South Africa: Manufacturing production drops again in October
December 10, 2020
Manufacturing output dropped 3.4% year-on-year in October (September: -1.9% yoy).
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South Africa: Inflation slides in November
December 9, 2020
Consumer prices were flat in November over the previous month, following October's 0.26% increase.
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South Africa: Economy rebounds robustly in Q3 amid easing of lockdown restrictions
December 8, 2020
The economy rebounded strongly in the third quarter, growing at the quickest rate since current records began in the early 1990s, as the easing of coronavirus lockdown measures enabled the gradual firming of activity.
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South Africa: PMI edges down in November amid weaker demand dynamics
December 3, 2020
The South Africa IHS Markit Purchasing Managers’ Index (PMI) inched down to 50.3 in November from October’s 51.0, which had marked the best reading in over two-and-a-half years.
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South Africa: Inflation hits seven-month high in October
November 25, 2020
Consumer prices increased 0.26% in October over the previous month, picking up from September's 0.17% increase.
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