1. SA Economic Indicators
Report updated:
May 2016
Next update:
June 2016
SA Economic Indicators

2. SA Economic Indicators
What is the SA Economic Indicators report?
Ti’s SA Economic Indicators report is a clear and easy-to-read view of the most currently available data for South Africa’s key economic indicators. Produced on a monthly basis by Ti Research, it draws on official information from various public and private institutions. The report is released in the first week of each new month, reporting on the available data up to and including the last day of the previous month.
How to read this report
Depending on the indicator itself, data is released by the various institutions on a daily, monthly or quarterly basis. The frequency and release date has been indicated at the foot of each slide, next to the data source. These dates are indicative however, since the institutions may publish the data with a delay.
Data lag: Data availability varies according to the data source, at times with a lag of a couple of months.
e.g. Retail Trade Sales for July 2015 were released with a two-month lag in September 2015
GDP figures for Q2/2015 were released two months after Q2 (i.e. in August 2015)
Readers are reminded to bear this data lag in mind when looking for parallels between indicators. It might therefore be necessary to go back to previous months’ reports in order to correctly analyse indicators over the same reporting periods.

3. SA Economic Indicators
GDP Growth
NOTE: In Q3/2014 GDP was rebased to the year 2010 – all figures thus reflect the rebase.
SOURCE: StatsSA | Frequency: Quarterly | Release date: Q1 – June, Q2 – September, Q3 – December, Q4 – March

4. SA Economic Indicators
Economic Growth (GDP)
COMMENTARY
GDP grew +0.6% (quarter-on-quarter) in Q4/2015
Year-on-year growth measured +0.6%
Nominal GDP for Q4 was R1,027bn (R20bn more than Q3/2015)
Key drivers of growth in Q4:
General government services (+1.0% increase)
Finance, real estate and business services (+1.9% increase)
Wholesale, retail and motor trade; catering and accommodation industry (+2.8% increase)
Economic growth will be weak over the coming months due to:
High unemployment rate
Weak leadership
The worst drought in two decades contracting agricultural output
Slowing growth in emerging Asia alongside reduced exports and declining exchange rate – resulting in reduced export demand from SA
Weakening exchange rate
Declining commodity prices and strengthening US dollar
Under-investment
Downward revision of global growth forecast
“South Africa has not been immune to these challenges.” – Lesetja Kganyago, Governor of the South Africa Reserve Bank

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6. Maryla Masojada | Head Analyst Tarryn Butler | Senior Retail Analyst