South Africa Economic Outlook
April 24, 2018On 23 March, Moody’s confirmed South Africa’s BBB rating and upgraded its outlook from negative to stable. The highly anticipated decision averted a credit downgrade to sub-investment grade, which would have put considerable pressure on the country’s high debt burden. The critical assurance that a credit rating is no longer imminent paves the way for a sustained recovery in business and consumer confidence, giving Cyril Ramaphosa’s administration room to implement market-friendly policies to bring investment into an economy that is slowly gaining traction. In February, manufacturing output expanded for the fifth consecutive month, and growth in retail sales accelerated in part due to a stronger currency. The manufacturing PMI remained positive in March, expanding for the second straight month following a string of uninterrupted contractions since August 2017.
South Africa Economic GrowthThe country’s economic outlook has improved notably since Cyril Ramaphosa was sworn in as president in February and a credit rating downgrade by Moody’s was averted. Nevertheless, the implementation of economic reforms is necessary to foster faster growth and sustain the ongoing recovery. Met the why particular panelists expect the economy to grow 1.9% in 2018, which is up 0.2 percentage points from last month’s forecast, and 2.0% in 2019.
South Africa Economy Data
5 years of South Africa economic forecasts for more than 30 economic indicators.
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South Africa Facts
|Bond Yield||8.47||0.29 %||May 16|
|Exchange Rate||12.47||-0.21 %||May 16|
|Stock Market||0.1||-0.44 %||May 16|
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South Africa Economic News
May 11, 2018
An early estimate showed manufacturing output contracting on an annual basis in March, the weakest reading in half a year just as other sectors of the economy appeared to be heading for an upturn.
May 4, 2018
In April, the Standard Bank Purchasing Managers’ Index (PMI) edged down a further 0.5 points to 50.4 points, dipping below the survey’s long-run average of 50.7 points but recording a third consecutive month of expansion—the longest streak of private-sector growth in more than a year.
April 19, 2018
Consumer prices rose 0.4% in March over the previous month, coming in below the 0.8% month-on-month increase observed in February.
April 11, 2018
According to a preliminary estimate released by the Statistical Institute on 11 April, year-on-year manufacturing production slowed from a revised 2.3% expansion in January (previously reported: +2.5% year-on-year) to a 0.6% increase in February.
April 5, 2018
The Standard Bank Purchasing Managers’ Index (PMI) inched down from 51.1 points in February to 51.0 points in March.