South Africa’s unemployment rate in the first quarter of 2023 was recorded at 32,9 %, and is among the highest in the world. According to the Quarterly Labour Force Survey (QLFS), this is an increase of 0,2 of a percentage point compared to the fourth quarter of 2022. While the unemployment rate may be high, read more »
Anecdotes about steep property price rises in the City of Cape Town are not without merit. Stats SA’s new residential property price index (RPPI) compares how housing prices have increased since 2010 across the eight metropolitan municipalities and nine provinces. Since 2010, residential property prices have grown by 141% in the City of Cape Town, read more »
Even though 2020 seems like a lifetime ago, the true extent of the COVID-19 pandemic’s impact is still being pieced together. The recent Tourism Satellite Account (TSA) for South Africa report1 sheds light on how the pandemic affected the tourism sector over the period January 2020 to December 2020, most notably in terms of production, read more »
After rallying in the third quarter of 2022, South African gross domestic product (GDP) declined by 1,3% in the fourth quarter (October‒December).1 Growth was dragged lower mainly by finance, trade, mining, agriculture, manufacturing and general government services. Finance and trade the biggest drags on growth Seven of the ten industries contracted in the fourth quarter. read more »
South Africa’s unemployment rate decreased by 0,2 of a percentage point to 32,7% in Q4:2022 compared to Q3:2022. According to the Quarterly Labour Force Survey (QLFS) for the fourth quarter of 2022, there were about 28 thousand more people who were unemployed than in Q3:2022. In the fourth quarter of 2022, South Africa had 7,8 read more »
Retail trade statistics have a strong seasonal pattern. For instance, actual retail sales are usually much higher in November and December because of the effect of Black Friday and the festive season. Seasonal adjustment removes these effects based on historical patterns, which helps with the analysis of underlying trends. Stats SA has published seasonally adjusted read more »
Consumer inflation hit its highest level in 13 years during 2022. The average inflation rate for the year (6,9%) hides the differences in timing and extent of price increases for different product groups. Transport and food & non-alcoholic beverages (NAB) had the biggest impact on overall inflation. Breaking the year down, the headline rate was read more »
Annual consumer price index (CPI) inflation registered its second monthly decline in December, edging lower to 7,2% from 7,4% in November and 7,6% in October. The monthly rate in December was 0,4%. The December release concludes the results for the calendar year. Average annual inflation for 2022 was 6,9%, higher than the 4,5% recorded read more »
Consumer price inflation moderated slightly in November to 7,4% from 7,6% in October. The monthly change in the consumer price index (CPI) was 0,3% in November, slightly lower than the 0,4% recorded in October. The three categories with the highest annual inflation rates in November were transport (15,3%), food & non-alcoholic beverages (NAB) (12,5%) and read more »
After contracting by 0,7% in the second quarter of 2022, the economy rallied in the third quarter, expanding by 1,6%.1 The agriculture, finance, transport and manufacturing industries were the main drivers of growth on the supply side of the economy. The demand side of the economy was lifted by a rise in exports and government read more »