Unemployment in South Africa
South Africa - UnemploymentThe economy returned to pre-pandemic levels as economic growth accelerated in the first quarter. The print was driven by increases in household consumption and exports of goods and services, although the pace of expansion eased for both. Activity seemingly began to worsen in the second quarter. Business conditions improved at a softer pace in April and May compared to the prior quarter, with activity disrupted by the devastating floods in the KwaZulu-Natal region. Business sentiment tanked further in the same two months. Furthermore, manufacturing production contracted at a six-month steep pace in April. Meanwhile, elevated inflation will have dented household spending. More positively, the war in Ukraine is buoying exports of coal to Europe, boding well for the external sector. Lastly, in mid-June the World Bank approved a USD 474 million loan to fund Covid-19 vaccine purchases.
South Africa - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
South Africa Unemployment Chart
Source: Statistics South Africa.
South Africa Facts
|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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January 26, 2023
At its 24–26 January meeting, the Monetary Policy Committee of the South African Reserve Bank (SARB) increased the repurchase rate by 25 basis points, bringing it to 7.25%.
January 18, 2023
Inflation fell to 7.2% in December, easing slightly from November’s 7.4%.
January 10, 2023
Manufacturing output increased 2.0% in month-on-month seasonally adjusted terms in November, which contrasted October's 6.2% decrease.
January 5, 2023
The S&P Global Purchasing Managers’ Index (PMI) moderated to 50.2 in December, down from November’s 50.6.
December 14, 2022
Inflation dropped to 7.4% in November from October’s 7.6%.