Unemployment in South Africa
South Africa - UnemploymentAn inventory-driven recovery in the third quarter topped analysts’ estimates and ended the technical recession that blighted the economy through the first half of the year. In annualized terms, household spending staged a comeback following a value-added tax hike in the second quarter and appears to have also received a one-off boost from government employees’ back pay. Fixed investment, on the other hand, contracted sharply as firms’ plans were put off by the controversial land-reform debate. Despite a jump in exports, bolstered in part by greater automotive-related volumes, the external sector dragged on headline growth. Meanwhile, a supply-side breakdown revealed an industry- and agriculture-driven rebound in the quarter. Looking ahead to the remainder of the year, improved private-sector metrics through November could hint at a sorely-needed upturn in fixed investment. On the other hand, fiscal woes—compounded by weak growth prospects and rising debt-servicing costs—pushed two of the three credit-rating agencies to keep their junk-status views in recent weeks.
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||8.81||0.29 %||Jan 14|
|Exchange Rate||13.78||-0.21 %||Jan 14|
|Stock Market||0.7||-0.44 %||Jan 11|
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December 12, 2018
Consumer prices climbed 0.2% from the previous month in November, down from October’s 0.5% increase.
December 11, 2018
A preliminary estimate showed the manufacturing sector rebounding in October.
December 5, 2018
In November, the Standard Bank Purchasing Managers’ Index (PMI) climbed 1.3 points to 48.2 points, closing in on the 50-point threshold that distinguishes deterioration from improvement in the South African private sector. November’s reading revealed a more modest deterioration in business conditions, reflected in smaller declines in output and new orders amid tepid demand.
December 4, 2018
South Africa’s economy bounced back in the third quarter from a short-lived technical recession in the first half of the year, expanding in seasonally-adjusted and annualized (saar) terms.
November 22, 2018
At its meeting ending on 22 November, the Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) opted to close the year by raising the repurchase rate by 25 basis points to 6.75%.