Inflation eases for a second consecutive month
Annual consumer price inflation pulled back in December, easing to 5,1% from 5,5% in November and 5,9% in October. The consumer price index (CPI) was unchanged month-on-month in December. Inflation was softer in the second half of 2023 The December release concludes the results for 2023. The average inflation rate for the year was 6,0%, read more »
The shift in government spending patterns over time
There is so much need but not enough money. Often faced with hard decisions on where to allocate scarce resources, governments usually have their own unique spending priorities. The South African government spent R2 187 billion (or R2,19 trillion) in the 2021/2022 fiscal year. This was R83 billion more than the R2 104 billion recorded in 2020/2021. Stats SA’s Financial statistics read more »
Formal non-agricultural sector jobs rise in the third quarter of 2023
According to the Quarterly Employment Statistics (QES, Q3:2023) survey released by Statistics South Africa (Stats SA), total employment in the formal non-agricultural sector increased by 31 000 in the third quarter of 2023, bringing the level of employment to almost 10,2 million. The survey showed that 256Â 000 jobs were added between September 2022 and September read more »
Almost one million births registered at DHA offices in 2022
Live birth statistics provide a crucial glimpse into the dynamics of human populations, offering valuable insights into demographics, healthcare trends, and societal changes. Understanding live birth statistics is not merely an exercise in number-crunching; it is a gateway to comprehending the health and wellbeing of populations. The data on Recorded Live Births indicates that the read more »
Consumer inflation slowed in November
Following a three-month upswing, headline consumer inflation cooled to 5,5% in November from 5,9% in October. The monthly change in the consumer price index (CPI) was -0,1%. The decline was mainly driven by a monthly decrease of 5,5% in the fuel price index, which drove the annual rate for fuel lower to 1,8% in November read more »
Metal ores push up mining turnover
The mining industry’s contribution to total turnover in the South African formal business sector has increased over the years. A comprehensive time series, available from the Annual Financial Statistics (AFS) statistical release, provides a breakdown of how the turnover pie has shifted over the years. The survey reference period for the latest AFS (i.e. AFS read more »
GDP weakens in the third quarter
After two consecutive quarters of growth, South African real gross domestic product (GDP) contracted by 0,2% in the third quarter (July–September) of 2023.1 The contributions to the performance of the economy were evenly spread between the industries on the production side of the economy. The contributions ranged from -0,3 of a percentage point to +0,1 read more »
Economic wrap-up for November 2023
Stats SA published 25 statistical releases in November. Here is a quick overview of the latest economic indicators. Employment surpasses pre-COVID-19 levels Covering a sample of about 30Â 000 households across the country, the Quarterly Labour Force Survey reported a rise in employment figures in the South African workforce. The economy created 399Â 000 jobs in the read more »
Discouraged Work-Seekers Decline in SA in Q3:2023
South Africa’s working-age population that are discouraged have shown a willingness to shift from being inactive to actively engaging in the labour market, either through employment or job-seeking efforts. This is evident in the results of the Quarterly Labour Force Survey (QLFS) for the third quarter of 2023. The number of persons who were not read more »
Consumer inflation accelerates to 5,9%
Annual consumer inflation increased for a third consecutive month in October, verging on the upper limit of the South African Reserve Bank’s inflation target range. The headline rate was 5,9%, up from 5,4% in September. Consumer prices increased on average by 0,9% between September and October, the highest monthly rise in three months. The following read more »