Economic wrap-up for June 2024
June was a bumper month for statistical reports. Stats SA published 40 releases in the month, providing monthly, quarterly and annual economic updates. Here are a few highlights. The South African economy weakens in the first quarter The month began with the release of the latest gross domestic product (GDP) figures. The economy contracted by read more »
Jobs lost in SA’s formal non-agricultural sector during Q1:2024
According to the Quarterly Employment Statistics (QES, Q1:2024) survey released by Statistics South Africa (Stats SA), total employment in the formal non-agricultural sector decreased by 67 000 in the first quarter of 2024, bringing the level of employment to 10,7 million. The survey showed that 74Â 000 jobs were lost between March 2023 and March 2024. read more »
Stats Biz – May 2024
Real gross domestic product (GDP) contracted by a marginal 0,1% in the first three months of 2024. This followed a revised 0,3% increase in the fourth quarter of 2023. Weaker manufacturing, mining and construction drove much of the downward momentum on the production side of the economy, while the expenditure side witnessed a decline across read more »
Economy 0,1% weaker in the first quarter
Real gross domestic product (GDP) contracted by a marginal 0,1% in the first quarter (January–March) of 2024.1 This followed a revised 0,3% increase in the fourth quarter of 2023. Weaker manufacturing, mining and construction drove much of the downward momentum on the production (supply) side of the economy, while the expenditure (demand) side witnessed a read more »
Economic wrap-up for May 2024
Stats SA published 24 releases in May, with many providing a preliminary overview of economic performance in the first quarter (January–March). Key industries down in the first three months of the year Mining, manufacturing, electricity, construction, retail trade, motor trade and road transport were weaker in the first quarter of 2024 compared with the fourth read more »
Economic wrap-up for April 2024
After a bumper month in March, Stats SA’s publication schedule was quieter in April. The statistical agency published 20 releases, many of which provide an update on the state of the economy. Consumer inflation remains above 5% Annual consumer inflation declined to 5,3% in March after climbing for the first two months of the read more »
SEZ Income Surges to R18, 9 Billion in 2023
Press Release                                                                                                                    11 April 2024 SEZ Income Surges to R18, 9 Billion in 2023 Gqeberha, 11 April – The Coega Special Economic Zone (SEZ) in Gqeberha is showing consistent growth in both income and capital expenditure, and employs more women and youth, according to the latest Statistics South Africa survey. Investors made R18,9 billion read more »
Employment dips in SA’s formal non-agricultural sector during Q4:2023
Statistics South Africa has committed to provide up-to-date and reliable statistics derived from the Quarterly Employment Statistics (QES) survey to ensure accurate information for users and policymakers. The results of the QES, Q4:2023 are derived from the 2023 sample, which was drawn in April 2023. This annual process typically impacts employment and gross earnings levels. read more »
Economic growth muted as 2023 draws to a close
South Africa’s economy grew by a marginal 0,1%1 in the fourth quarter (October–December), taking the annual growth rate for 2023 to 0,6%. Real gross domestic product (GDP) in the fourth quarter was R1 158 billion. This is above the pre-COVID-19 reading of R1 150 billion, but still below the peak of R1 161 billion recorded in the third quarter read more »
Economic wrap-up for February 2024
February is a highlight of Stats SA’s publication schedule, with the release of various economic indicators for December concluding the results for the previous year. The preliminary data point to a lacklustre 2023, with several indicators in the red (Figure 1). Mining production, electricity generation, construction (the value of buildings completed as reported by large municipalities), read more »