After two years, GDP returns to pre-pandemic levels
South African gross domestic product (GDP) expanded by 1,9% in the first quarter of 2022, representing a second consecutive quarter of upward growth.1 The size of the economy is now at pre-pandemic levels, with real GDP slightly higher than what it was before the COVID-19 pandemic. This release covers the first quarter of the year read more »
Seasonal adjustment: what is it, and why is it important?
In April and May 2022 Stats SA is updating its seasonal adjustment models for monthly business cycle indicators, namely mining, manufacturing, electricity, building, wholesale, retail, motor, tourist accommodation, food & beverages, land transport, and civil cases for debt. What is seasonal adjustment, and why is it so important for measuring and analysing the economy? We read more »
Part-time job gains offset full-time job losses in Q4 formal non-agricultural sector
Jobs in the formal non-agricultural sector increased by 62 000 in the fourth quarter of 2021, bringing the total number of persons employed in the formal non-agricultural sector in South Africa to approximately 10,0 million. According to the Quarterly Employment Statistics (QES, Q4:2021) survey released by Statistics South Africa (Stats SA), formal sector jobs increased read more »
The South African economy records a positive fourth quarter
Real gross domestic product (GDP) grew by 1,2%1 in the fourth quarter (October–December), taking the annual growth rate for 2021 to 4,9%. The fourth quarter was upbeat, with personal services, trade, manufacturing and agriculture the key drivers of growth. An increase in demand for goods and services drove up the expenditure side of the economy, read more »
Jobs increase in formal non-agricultural sector in Q3: 2021
Jobs in the formal non-agricultural sector increased by 52Â 000 in the third quarter of 2021, bringing the total number of persons employed in the formal non-agricultural sector in South Africa to approximately 9,62 million. According to the Quarterly Employment Statistics (QES, Q3:2021) survey released by Statistics South Africa (Stats SA), year-on-year, formal sector jobs increased read more »
Pre-lockdown business profits fall to their lowest level in 14 years
Net profit before tax in the formal business sector tumbled by 33,4% in the financial year 2020 compared with 2019, with business services and manufacturing the hardest hit. The data, from Stats SA’s latest Annual financial statistics (AFS) survey1 , which mostly covers the period before the lockdown, show that total net profit before tax read more »
Third wave of COVID and civil disorder pummel economy as GDP falls by 1,5%
Under the twin pressures of tighter COVID-19 lockdown restrictions and a spate of civil disorder in July, as well as several other headwinds, the South African economy contracted in the third quarter of 2021 (July–September). After recording four consecutive quarters of positive growth, real gross domestic product (GDP) slumped by 1,5%1, eroding some of the read more »
New samples for monthly business cycle indicators
Introduction In September 2021, Statistics South Africa (Stats SA) implemented new samples for the following monthly surveys: P3041.2 – Manufacturing: Production and sales; P6141.2 – Wholesale trade sales; P6242.1 – Retail trade sales; P6343.2 – Motor trade sales; P6410 – Tourist accommodation; P6420 – Food and beverages; and P7162 – Land transport. New samples for read more »
SA formal non-agricultural sector jobs continue to decline in the 2nd quarter of 2021
Jobs in the formal non-agricultural sector decreased by 86Â 000 in the second quarter of 2021, bringing the total number of persons employed in the formal non-agricultural sector in South Africa to approximately 9,57 million. According to the Quarterly Employment Statistics (QES, Q2:2021) survey released by Statistics South Africa (Stats SA), formal sector jobs increased by read more »
Jobs in SA formal non-agricultural sector down in the 1st quarter of 2021
Jobs in the formal non-agricultural sector decreased by 9 000 in the first quarter of 2021, bringing the total number of persons employed in the formal non-agricultural sector in South Africa to approximately 9,64 million. Year-on-year figures from the Quarterly Employment Statistics (QES, Q1:2021) survey, released by Statistics South Africa (Stats SA), show that formal read more »