Economic wrap-up for August 2023
Stats SA published 28 statistical releases in the month of August. Here is a monthly rundown of important economic indicators. Consumer and producer inflation continue to cool Inflation figures continue to provide some good news. Remaining on a downward path, consumer headline inflation slowed to its lowest reading in two years. The annual change in read more »
Consumer inflation lowest in two years
Annual consumer inflation slumped to 4,7% in July from 5,4% in June. This is the lowest reading since July 2021, when the rate was 4,6%. Consumer prices increased on average by 0,9% between June 2023 and July 2023. This is up from the monthly rise of 0,2% recorded in both May and June. Transport taps the brakes on read more »
Three facts about the manufacturing industry (2021)
There are two reasons to be excited about two recent manufacturing reports. First, covering the results of a detailed 2021 survey, the reports provide provincial- and district-level data. Second, they offer detailed insight into the state of the manufacturing industry in South Africa in terms of employment, finances, and the quantities of manufactured products. The read more »
South African economy expands by 0,4%
After contracting by a revised 1,1% in the fourth quarter of 2022, real gross domestic product (GDP) edged higher in the first quarter of 2023 (January‒March), expanding by an estimated 0,4%.1 The manufacturing and finance industries were the major drivers of growth on the supply side of the economy. The demand side was lifted by read more »
SA’S elderly population increasing steadily.
In 2022 the estimated population of South Africa included more than five million people aged 60 or older. This represents a 9,2 percent share of the overall South African population. According to a report by Statistics South Africa titled Marginalised Groups Series VI: The Social Profile of Older Persons, 2017–2021, more than half (60,9%) of read more »
Safeguarding every drop: Profiling South Africa’s Strategic Water Source Areas
Water outages across the country have focussed attention on water as a vital resource. South Africa is a semi-arid country, with only a few natural source areas for water. These areas, referred to as Strategic Water Source Areas (SWSAs), provide much of the water that flows from our taps. SWSAs can be thought of as read more »
GDP declines in the fourth quarter
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 »
Corporal punishment still in schools despite ban
The Abolishing of Corporal Punishment Act, No. 33 of 1997 banned the use of corporal punishment in schools. Despite the ban, corporal punishment is still used as a form of discipline more than 20 years later. Of those that reported experiencing violence at school, the most common form of violence experienced was corporal punishment by read more »
Seasonally adjusting the components of retail trade
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 »
2022: A rocky road for product prices
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 »