Current Account in South Africa
South Africa - Current AccountSouth Africa’s economy has, slowly but surely, been on the mend since last year’s short-lived recession, but a number of potential setbacks threaten its further recovery. On the heels of last year’s household spending- and net export-led fourth quarter, available first-quarter indicators have been downbeat; lower inflation has done little to bolster retail sales, while dwindling business confidence and feeble manufacturing output hint at another round of foregone outlays on machinery and equipment. More recently, however, Moody’s upheld its investment-grade credit rating on 2 April. That said, rolling blackouts—testament to Eskom’s mismanagement—and general elections scheduled for 8 May are each taking their toll. President Cyril Ramaphosa’s market-friendly reforms will be on the line, although opinion polls suggest that his African National Congress should secure another majority.
South Africa - Current Account Data
|Current Account (% of GDP)||-5.8||-5.1||-4.6||-2.8||-2.5|
5 years of economic forecasts for more than 30 economic indicators.
South Africa Current Account Chart
Source: South African Reserve Bank and FocusEconomics calculations.
South Africa Facts
|Bond Yield||8.53||0.29 %||May 13|
|Exchange Rate||14.31||-0.21 %||May 13|
|Stock Market||0.6||-0.44 %||May 13|
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May 12, 2019
In April, the Standard Bank Purchasing Managers’ Index (PMI) rose 0.5 points to 50.3 points, landing above the 50-point threshold that distinguishes an improvement of private-sector business conditions for only the second time in ten months. April’s modest upturn reflected a stabilization of output—which had previously fallen for nine straight months.
May 10, 2019
Manufacturing output increased 1.2% year-on-year in March, up from a revised 0.5% increase in February (previously reported: +0.6% year-on-year).
April 17, 2019
Consumer prices rose 0.8% from a month earlier in March, matching February’s 0.8% increase.
South Africa: Ramaphosa’s economic reforms, majority for the ANC expected to survive general elections
April 12, 2019
Cyril Ramaphosa’s presidency and his promised “new dawn”, which hinges on the further implementation of sorely-needed economic reforms, will be on the ballot when South Africans head to the polls on 8 May.
April 11, 2019
A preliminary estimate revealed little improvement for the manufacturing sector in February.