Business profit jumps in financial year 2016/17
Some good news in trying times. After two consecutive years of decline, South African businesses recorded a 49% increase in net profit before tax in financial 2017, according to Stats SA’s latest Annual financial statistics (AFS) survey. The mining industry was the largest contributor to this rise. The success of a business generally depends on read more »
Stats Biz – November 2018
The South African economy grew by 2,2% quarter-on-quarter in the third quarter of 2018, bringing to an end the country’s second recession since 1994. Higher contributions to growth in a number of industries – most notably in manufacturing, transport as well as finance and business services – were enough to lift economic growth back into read more »
The recession ends as GDP climbs by 2,2%
The South African economy grew by 2,2% quarter-on-quarter (seasonally adjusted and annualised) in the third quarter of 2018, bringing to an end the country’s second recession since 1994. Higher contributions to growth in a number of industries – most notably in manufacturing, transport as well as finance and business services – were enough to lift read more »
Tourism jobs grow despite sluggish economy
With concerns over job losses in major industries, the tourism sector has shown some resilience in the face of a tough economic climate. In 2017, the sector had its most successful year of job creation in recent times. The tourism sector created 31Â 752 net new jobs in 2017.1 This is the most number of net read more »
Private sector companies record turnover increases
Media release                                                                                                 20 November 2018 Private sector companies record turnover increases The total turnover for private sector enterprises1 operating in the South African economy increased by 6,0% to R9 369 199 million (R9,4 trillion) for 2017 from R8 836 493 million (R8,8 trillion) in 2016. For the reference period, turnover increased in all industries covered in the Annual read more »
How much does SA business spend on its employees?
About 14% of total spending, according to recent figures. A quick review of the data shows that this proportion has remained relatively stable over the last decade. In the second quarter of 2009, employment costs contributed 15% of total expenditure in the formal business sector. Although there hasn’t been a major change over time for read more »
Formal employment declines in second quarter of 2018
According to the figures from the Quarterly Employment Statistics (QES) survey, released by Statistics South Africa, the total number of jobs reported in the second quarter showed a decrease of 69Â 000, bringing the total number of persons employed in the formal non-agricultural sector of South Africa to 9Â 748 000. Job losses were reported in the read more »
GDP in the second quarter of 2018 contracted by 0,7%
Press statement              Embargo: Tuesday 4 September 2018, 11:30 GDP in the second quarter of 2018 contracted by 0,7% Gross domestic product (measured by production) South Africa’s gross domestic product (GDP) fell by 0,7% in the second quarter of 2018.1 The agriculture, read more »
The economy shrinks by 0,7% in Q2: 2018
The South African economy slipped into recession during the second quarter of 2018, shrinking by 0,7% quarter-on-quarter (seasonally adjusted and annualised). This followed a revised 2,6% contraction in the first quarter of 2018. The widely recognised indicator of recession is two (or more) consecutive quarters of negative growth (real GDP quarter-on-quarter). South Africa experienced its read more »
Plugging the skills gap one leak at a time
Recent news reports of sewage spills in the Vaal Dam have again raised concerns over South Africa’s water resources. In order to reduce the costs of maintaining the country’s water network, government has embarked on a programme to train unemployed youth with skills to patch up ageing infrastructure. An important tool to fight joblessness is read more »