Thanda Sithole News Today

On a monthly basis in December, South African mining output slid 4.2% compared with November. But the economy may have dodged a recession.

SA looks set to buck one worldwide economic trend in 2024, and for a change it’s sort of positive: The country’s economic growth is expected to accelerate.

South African manufacturing production rose 1.9% year-on-year in November, adding another glimmer of hope that a recession has been narrowly dodged.

Absa’s ETF also benefits from investor demand in Botswana and Namibia, where the R7.6bn fund has secondary listings, according to Michael Mgwaba.

In the three months to the end of October, mining output had a lift of 0.7%. If it can contain that momentum, mining will make a positive contribution to the quarter-on-quarter Q4 gross domestic product (GDP) read, which will show whether or not the economy slid into a recession after contracti...

As rolling power cuts intensified in September, data this week showed that the economy’s industrial arms got off to a faltering start in the third quarter.

Digging into the latest labour force survey shows that young people without higher education will struggle to find jobs in a low-growth economy.

On Tuesday, Statistics South Africa released the second quarter labour statistics which showed there has been a 0.3 percentage point decrease in the unemployment rate compared to the first quarter of this year.

There are 16.3 million employed people in South Africa, which is almost at the pre-COVID levels where the figure stood at 16.4 million.

Mining production rose by 1.1% year on year in June after declining by 0.7% in May. On a monthly basis, output increased by 1.3%.