SA's economic growth prospects keep diving
By Prinesha Naidoo - Aug 7th, 08:39
SA’s economic growth prospects keep going from bad to worse.
The International Monetary Fund is the latest key institution to slash the country's growth forecast, which may have fallen into its second recession in as many years. It now expects the economy to expand by 0.7% in 2019, half of what it estimated in January, and similar to forecasts by the South African Reserve Bank and Bloomberg Economics.
The economy shrank the most in a decade in the first quarter of this year as the nation suffered the worst power outages since 2008.
The National Treasury, which forecast growth of 1.5% in the February budget, is expected to lower its prediction in the October mid-term budget.
While the World Bank’s 1.1% estimate seems to be an outlier, it was published as part of its mid-year Global Economic Prospects outlook on the same day that Statistics South Africa released data showing a much bigger-than-expected contraction for the three months through March.
Retail sales up 1.1% in August
18/10/2019 - 09:28
Measured in real terms, retail sales increased by 1.1% year-on-year in August, following a 2% jump in July, figures released on Wednesday by Statistics South Africa showed.
Slight upturn in prospects for SA 2019/2020 stone fruit exports
16/10/2019 - 10:11
The latest forecast for South Africa's stone fruit season points to improved volumes compared to last year although the continued effects of drought in some areas and adverse weather during pollination has impacted the full potential, an industry body said on Tuesday.
SA economy at risk of third-quarter contraction
11/10/2019 - 09:54
Dismal mining and manufacturing figures for August have raised the prospect of a third-quarter economic contraction.
SA's economy enters 70th month of downward cycle
09/10/2019 - 15:50
South Africa’s economy remains stuck in its longest downward cycle since 1945, adding to pressure on the government to implement reforms to lift business confidence and boost growth.
Stats SA’s seasonal adjustment models are part of regular rebasing
08/10/2019 - 10:53
Every year, SA’s economic activity peaks in the fourth quarter (October-December). On the production (or industry) side of GDP, this pattern is driven mainly by three industries: manufacturing; trade, catering and accommodation; and transport, storage, and communication.