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SOUTH AFRICA economic forecast.

Economic data 2024

Economic Indicators Glossary

Our comprehensive glossary is designed to help you understand what each economic indicator means, how it’s calculated, and what it reveals about the economy. With our glossary, you’ll gain a deeper understanding of the economic landscape and be able to make more informed decisions.

See the glossary

 

Markets Actual Q3/24 Q4/24 Q1/25 Q2/25
Stock Market (points) 81424.59 78290 76273 74304 72384
Currency 17.98 18.46 18.88 19.3 19.73
Government Bond 10Y (%) 9.72 9.98 9.85 9.73 9.62
Overview Actual Q3/24 Q4/24 Q1/25 Q2/25
GDP Growth Rate (%) -0.10 0.7 1 0.6 0.6
GDP Annual Growth Rate (%) 0.50 1.4 1.2 0.8 0.8
Unemployment Rate (%) 32.90 31.5 32 32.5 32.5
Inflation Rate (%) 5.20 5.2 5.1 4.6 4.5
Inflation Rate MoM (%) 0.20 0.6 0.4 0.2 0.2
Interest Rate (%) 8.25 8.25 8 7.75 7.5
Balance of Trade (ZAR Million) 20090.00 8000 12000 17000 17000
Current Account (ZAR Million) -84600.00 -170000 -180000 -85000 -85000
Business Confidence (points) 35.00 32 31 40 40
Manufacturing PMI (points) 45.70 51 50.8 51.3 51.3
Retail Sales MoM (%) 0.50 0.4 1.2 1 1
Consumer Confidence (points) -12.00 -10 -9 -13 -16
Current Account to GDP (% of GDP) -1.60 -2.8
Government Debt to GDP (% of GDP) 72.20 74
Government Budget (% of GDP) -4.90 -4.5
GDP Actual Q3/24 Q4/24 Q1/25 Q2/25
GDP Growth Rate (%) -0.10 0.7 1 0.6 0.6
GDP Annual Growth Rate (%) 0.50 1.4 1.2 0.8 0.8
GDP Constant Prices (ZAR Million) 4626739.00 4685000 4690951 4663753 4663753
Gross National Product (ZAR Million) 4636223.00 4734990 4691858 4673313 4673313
Gross Fixed Capital Formation (ZAR Million) 662569.00 685938 683010 667870 667870
GDP from Manufacturing (ZAR Million) 517439.00 530966 531339 521579 521579
GDP from Mining (ZAR Million) 201868.00 204194 209093 203483 203483
GDP from Public Administration (ZAR Million) 370771.00 378599 375779 373737 373737
GDP from Transport (ZAR Million) 389488.00 384987 395978 392604 392604
GDP from Services (ZAR Million) 1117279.00 1123065 1129951 1126217 1126217
GDP from Utilities (ZAR Million) 97914.00 97478 99504 98697 98697
GDP from Construction (ZAR Million) 102694.00 109028 107205 103516 103516
GDP from Agriculture (ZAR Million) 126412.00 115713 112716 127423 127423
GDP (USD Billion) 377.78
GDP per Capita (USD) 6006.45
GDP per Capita PPP (USD) 14284.34
Full Year GDP Growth (%) 0.60
Labour Actual Q3/24 Q4/24 Q1/25 Q2/25
Unemployment Rate (%) 31.5 32 32.5 32.5 32.5
Unemployed Persons (Thousand ) 7700 7680 7600 7600 7600
Employed Persons 17500 17700 16800 16800 16800
Labour Force Participation Rate (%) 61.5 61.7 62 62 62
Youth Unemployment Rate (%) 60 61 60.7 60.7 60.7
Employment Rate (%) 40.8 42.2 43 43 43
Population (Million) 63
Minimum Wages (ZAR/Hour) 27.58
Prices Actual Q3/24 Q4/24 Q1/25 Q2/25
Inflation Rate (%) 4.23 4 3.8 3.8 3.9
Inflation Rate MoM (%) 0.21 0.2 0.1 0 0
Consumer Price Index CPI (points) 6941.51 6969 7031 7130 7212
Core Inflation Rate (%) 4.66 3.2 2.8 2 2
Producer Prices (points) 160.28 162 163 162 164
Export Prices (points) 121.80 133 135 135 135
Import Prices (points) 105.43 123 124 124 124
Food Inflation (%) 4.71 2.9 3.2 2.6 2.6
IGP-M Inflation MoM (%) 0.81 0.9 0.2 0.2 0.2
IPC-Fipe Inflation MoM (%) 0.26 0.2 0.4 0.4 0.4
Mid-month Inflation Rate MoM (%) 0.39 0.4 0.3 0.3 0.3
Producer Price Inflation MoM (Percent) 0.45 0.5 0.3 0.3 0.3
Mid-month Inflation Rate YoY (%) 4.06 4 5 5 5
CPI Transportation (points) 6582.10 6595 6602 6602 6602
CPI Housing Utilities (points) 11584.82 11756 11832 11916 12037
Producer Prices Change (%) 0.17 2.7 3.2 2.4 2.4
GDP Deflator (%) 4.70 4.88
Money Actual Q3/24 Q4/24 Q1/25 Q2/25
Interest Rate (%) 8.25 8.25 8 7.75 7.5
Money Supply M0 (ZAR Million) 400342.00 395000 400000 392500 392500
Money Supply M1 (ZAR Million) 2588863.00 2670000 2700000 2680000 2680000
Interbank Rate (%) 8.34 8.34 8.09 7.84 7.59
Money Supply M2 (ZAR Million) 4202099.00 4400000 4550000 4500000 4500000
Money Supply M3 (ZAR Million) 5159483.00 4980000 5200000 4970000 4970000
Banks Balance Sheet (ZAR Million) 7713965.00 7660000 7680000 7730000 7730000
Foreign Exchange Reserves (USD Million) 62100.00 61200 62000 61700 61700
Loans to Private Sector (ZAR Million) 4702005.00 4675369 4687243 4763406 4739621
Deposit Interest Rate (%) 7.22 7.22 6.97 6.72 6.47
Lending Rate (%) 11.75 11.75 11.5 11.25 11
Trade Actual Q3/24 Q4/24 Q1/25 Q2/25
Balance of Trade (ZAR Million) 20090.00 8000 12000 17000 17000
Current Account (ZAR Million) -84600.00 -170000 -180000 -85000 -85000
Imports (ZAR Million) 158299.00 170000 168000 156000 156000
Exports (ZAR Million) 178392.00 178000 180000 173000 173000
Tourist Arrivals 881544.00 1050000 1100000 995000 995000
Terms of Trade (points) 108.30 105 106 106 106
Foreign Direct Investment (ZAR Billion) 24441.00 18900 25500 23000 23000
Current Account to GDP (% of GDP) -1.60 -2.8
Government Actual Q3/24 Q4/24 Q1/25 Q2/25
Government Debt to GDP (% of GDP) 72.20 74
Government Budget (% of GDP) -4.90 -4.5
Business Actual Q3/24 Q4/24 Q1/25 Q2/25
Business Confidence (points) 35.00 32 31 40 40
Manufacturing PMI (points) 45.70 51 50.8 51.3 51.3
Industrial Production (%) -0.60 4.5 4 2.7 2.7
Industrial Production Mom (%) -3.20 -1 0.9 1.3 1.3
Capacity Utilization (%) 78.70 78.6 79.4 78.4 78.4
Bankruptcies (Companies) 128.00 153 155 150 150
Car Registrations (Units) 24367.00 24800 24000 26200 28000
Total Vehicle Sales (Units) 40072.00 46100 41200 44000 42100
Leading Economic Index (%) 2.40 1.5 1.3 0.5 0.5
Coincident Index (points) 107.80 108 109 109 109
Electricity Production (Gigawatt-hour) 18717.00 19300 18800 17500 17500
Composite PMI (points) 49.20 50.7 51 49.7 49.7
Mining Production (%) 0.00 2.1 0.9 1.3 1.3
Gold Production (%) -9.00 -2.8 1.7 2 2
Consumer Actual Q3/24 Q4/24 Q1/25 Q2/25
Retail Sales MoM (%) 0.50 0.4 1.2 1 1
Consumer Confidence (points) -12.00 -10 -9 -13 -16
Retail Sales YoY (%) 0.60 2.2 1.7 1.3 1.3
Consumer Spending (ZAR Million) 3087562.00 3138430 3134105 3112262 3112262
Disposable Personal Income (ZAR Million) 4561365.00 4556664 4616101 4597856 4597856
Private Sector Credit (%) 4.26 6 4.5 5 5
Bank Lending Rate (%) 11.75 11.75 11.5 11.25 11
Gasoline Prices (USD/Liter) 1.33 1.32 1.35 1.38 1.41
Households Debt to Income (%) 62.40 65
Housing Actual Q3/24 Q4/24 Q1/25 Q2/25
Building Permits (ZAR Thousand) 9130303.00 9850000 10100000 10100000 10100000
Housing Index (points) 113.00 117 121 125 130

Last updated: July, 2024

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