As a result, the official unemployment rate increased by 1 percentage point to (30,1%) compared to the fourth quarter Annual CPI inflation for April reflects the impact of the first month of the COVID-19 lockdown. This page has economic forecasts for South Africa including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the South Africa economy.
The South African economy contracted by 1,4% in the fourth quarter of 2019, following a contraction of 0,8% (revised) in the third quarter.1 Transport and trade were the main drags on overall activity, according to the latest gross domestic product (GDP) figures. Year-on-year, the economy contracted 0.1%, after shrinking 0.5% in the previous period but less than market expectations of a 0.8% fall. GDP Growth Rate QoQ The GDP value of South Africa represents 0.29 percent of the world economy. Manufacturing accounts for 13.9 percent; mining and quarrying for around 8.3 percent and agriculture for only 2.6 percent.
South Africa is the most developed country in Africa and was the largest until 2014, when it was overtaken by Nigeria. Growth in Southern Africa is expected to remain moderate in 2019 and 2020 after a modest recovery in 2017 and 2018. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth. South Africa’s 257 municipalities spent R96,8 billion in the quarter ended March 2020 on operational costs, up from R86,3 billion in the quarter ended March 2019. GDP Growth Rate QoQ The South African GDP shrank an annualized 2% on quarter in the three months to March of 2020, following a 1.4% contraction in the previous period and compared with market expectations of a 3.8% decline. The first impact survey covered the period 30 March to 13 April 2020, and the results were published on 21 April.1 The survey asked firms in the formal sector how the COVID-19 New employment figures released by Statistics South Africa (Stats SA) showed that South Africa’s formal non-agricultural sector added 16 000 jobs in the fourth quarter of 2019, bringing the total number of persons employed in the formal non-agricultural sector to 10,2 million. The dominance of fuel price changes recorded in the previous few months continued in June. 10Y 25Y Reference During Level 4, this fell to one-fifth, according to a follow-up survey. Country. Within services, the most important are finance, real estate and business services (21.6 percent); government services (17 percent); wholesale, retail and motor trade, catering and accommodation (15 percent); and transport, storage and communication (9.3 percent). The South African Treasury expects the GDP to grow 0.5 percent in 2019.
GDP contracts by 0,6% in the third quarter After rebounding by a revised 3,2%1 in the second quarter of 2019, activity in the South African economy slipped slightly in the third quarter. The worst rolling blackouts in the country's history affected severely seven out of ten industries, namely transport, storage & communication (-7.2% vs -5.4% in Q3); trade, catering & accommodation (-3.8% vs 2.6%); construction (-5.9% vs -6.9%); utilities (-4% vs -4.9%); manufacturing (-1.8% vs -4.4%); agriculture, forestry & fishing (-7.6% vs -4.5%) and government services (-0.4% vs 2.4%). Southern Africa’s subdued growth is due mainly to South Africa’s weak development, which affects neighboring countries. This is how much it costs municipalities to provide services – such as water, electricity and sanitation – to millions of households across the country. The R95,2 billion was higher than the R84,4 billion that was
WDI Tables. CSV XML EXCEL. The results presented here cover the period 1 January 2020 to 31 March During the final two weeks of Level 5 lockdown, almost half of the businesses responding to our impact survey indicated that they had temporarily ceased trading.
The economy expanded 0.2% in 2019, the least since a 1.5% contraction in 2009 and compared to 0.8% in 2019. Fuel prices increased by 7,5% from May to June, with petrol According to the Quarterly employment statistics (QES) survey released by Statistics South Africa (Stats SA) the formal non-agricultural sector shed 3 000 jobs in the first quarter of 2020. Kindly participate in this short survey and provide your details. Year-on-year, the GDP declined 0.5% after a 0.1% expansion. It was the strongest growth rate since the last quarter of 2017, partly due to low base effects and the positive impact of reduced power cuts in mining and manufacturing.