South Africa Economic Outlook
September 19, 2017According to recently released data, in Q2 South Africa escaped the grip of a downturn that saw the economy briefly enter a technical recession in Q1: GDP grew a seasonally-adjusted 2.5% quarter-on-quarter, contrasting Q1’s 0.6% decline. Following two consecutive quarters of contraction, economic activity expanded at a modest pace primarily thanks to a stellar performance by the agricultural sector amid improved weather conditions. Exports also supported the economy’s return to positive growth dynamics, swinging to a double-digit expansion after a drop in Q1. The upturn seems to have continued into Q3 as contraction in manufacturing output eased. On the downside, investment contracted in Q2 as investors become increasingly risk averse in the face of unending political drama fueled by a string of corruption scandals engulfing President Jacob Zuma, and a widening graft scandal involving numerous international firms. Heightened uncertainty caused business confidence to plummet to an over 30-year low in August, despite the recent revival in growth.
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||8.64||0.23 %||Oct 16|
|Exchange Rate||13.29||-0.04 %||Oct 16|
|Stock Market||0.1||0.50 %||Oct 12|
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South Africa Economic Growth
September 19, 2017The economy is projected to recover marginally this year from last year’s seven-year low and accelerate in 2018, although lackluster growth momentum is expected to persist. Higher prices for the country’s key export commodities, namely gold and other precious metals, together with robust agricultural output will be crucial drivers to generating a steady recovery. Panelists expect the economy to grow 0.7% in 2017, and see growth picking up to 1.3% in 2018 which is down 0.1 percentage points from last month’s forecast.
South Africa Economic News
October 10, 2017
According to a preliminary estimate released by the Statistical Institute, year-on-year manufacturing production rose 1.5% in August, contrasting the 1.1% drop in July.
October 5, 2017
Activity in the private sector dipped further into contractionary territory in September.
October 3, 2017
In August, consumer prices increased 0.1% month-on-month, coming in below the 0.3% rise observed in July.
September 7, 2017
According to a preliminary estimate released by the Statistical Institute, manufacturing production fell 1.4% in July compared to the same month of the previous year, marking a slower pace of contraction than June’s 2.3% drop.
September 5, 2017
Activity in the private sector fell into contractionary territory in August for the second time in 12 months.