Current Account in South Africa
South Africa - Current Account (billions of U.S. Dollars)
Rolling blackouts had the economy reeling at the outset of the year. Output fell sharply quarter-on-quarter in Q1 2019 as power cuts, coined “load-shedding” by state-owned Eskom, leveled economic sentiment. Spending and investment each tumbled; the former amid an uptick in unemployment, while the latter on deterred non-residential outlays. Exports, meanwhile, plummeted on weaker motor vehicle sales—although analysts presumed it was a one-off. Second-quarter indicators have been less downbeat, however. Manufacturing gains jumped in April and business confidence has been improving since slumping to a seven-month low in March. Taken together with lower short-term inflation expectations, and especially in light of recent elections-related currency volatility, the ailing economy looks set for a modest rebound through midyear.South Africa - Current Account (USD bn) Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Current Account Balance (USD bn) | -20.6 | -18.1 | -15.4 | -8.6 | -8.9 |
South Africa Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 8.03 | 0.29 % | Jul 11 |
| Exchange Rate | 13.94 | -0.21 % | Jul 11 |
| Stock Market | 0.1 | -0.44 % | Jul 11 |
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Economic News
South Africa: Manufacturing output loses steam in May
July 11, 2019
The manufacturing sector decelerated in May, with the annual growth of production slowing to 1.0% from a revised 4.3% expansion in April (previously reported: +4.6% year-on-year).
South Africa: Business conditions deteriorate at a softer rate in June
July 3, 2019
In June, the IHS Markit Purchasing Managers’ Index (PMI) rose from 49.3 in May to 49.7 in June.
South Africa: Inflation lands at SARB’s midpoint target in May
June 19, 2019
Consumer prices increased 0.3% month-on-month in May, down from 0.6% in April.
South Africa: Business conditions deteriorate in May
June 12, 2019
In May, the Standard Bank Purchasing Managers’ Index (PMI) fell 1.0 point to 49.3 points.
South Africa: Manufacturing gains jump in April
June 12, 2019
Manufacturing output increased 4.6% year-on-year in April, up from a revised 1.3% increase in March (previously reported: +1.2% year-on-year).
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