Group Economic Unit News Today

On Wednesday, Finance Minister Enoch Godongwana will provide a detailed plan for 2024 spending, including proposals for revenue collection to help fund government’s planned interventions and commitments.

Statistics South Africa announced this morning that the average inflation rate for 2023 was 6,0%, much lower than 2022’s 6,9%.

The South African rand weakened, kicking off a week of data releases which include the country's second quarter GDP and current account.

In early trade the rand was at R18.81 to the dollar.

Will the MPC hike the repo rate or not? This is the question o everyone’s lips now that inflation fell to well below the Sarb upper limit.

Analysts see inflation falling to within the Reserve Banks target range, this year.

While SA’s economy faces a bumpy road over the short- to medium term, it isn’t all doom and gloom, says Nedbank economist Isaac Matshego.

Number totalled 7.92m people in the October-December period.

MONEYWEB app instead? This marks the third consecutive month of price deceleration – Nedbank. By Reuters and Moneyweb 20 Jan 2021  10:21  Image: Chris Ratcliffe/Bloomberg South Africa’s headline consumer price inflation slowed to 3.1% year-on-year in December from 3.2% in November, data from Statistics South Africa showed on Wednesday. On a month-on-month basis, the CPI rose to 0.2% in December from 0.0% in the previous month. Core inflation, which excludes prices of food, non-alcohol...

MONEYWEB app instead? Nedbank says 2021 may be slightly better. By Reuters and Moneyweb 12 Jan 2021  22:09  Image: Luke Sharrett, Bloomberg South Africa’s manufacturing output fell 3.5% year on year in November after falling by 3.4% in October, the statistics agency said on Tuesday. Factory production was down 1.3% in November month on month and rose 8.9% in the three months to end-November, Statistics South Africa said. Nedbank’s Group Economic Unit stated that global demand also det...