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SA Economic Indicators:
for the month of August 2013
SA Economic Indicators
Economic Growth (GDP)
Updated quarterly (Last updated September 2013)
GDP Growth Q3/2007 – Q2/2013
7.0%
6.0%
6.0%
5.0%
5.0%
4.4%
4.4%
4.0%
3.5%
3.0%
4.4%
4.8%
3.6%
3.4%
3.3%
3.1%
3.0%
3.0%
2.5%
1.8%
2.0%
1.7%
2.1%
1.9% 1.9%
1.2%
1.0%
0.9%
0.0%
-1.0%
-2.0%
-1.7%
-3.0%
-2.7%
-4.0%
-5.0%
-6.0%
-6.3%
-7.0%
Source: StatsSA
SA Economic Indicators
for the month of July 2013
© 2013 Trade Intelligence
SA Economic Indicators
Economic Growth (GDP)
COMMENTARY
• According to the International Monetary Fund (IMF) revisions, world GDP growth is expected to reach 3.9% in July and 3.6%
in October
• IMF forecasts growth for South Africa to be 3.6% between 2012 and 2016
For the latest period:
• GDP expanded 3% in Q2/2013, compared with 0.9% in Q1/2013. This growth was boosted by an 11.5% rise in
manufacturing GDP, however was still behind the estimations of 3.3%.
• The nominal GDP value was R836bn, R23bn more than Q1/2013
• The largest contributors to GDP growth in Q2 were:
– Manufacturing industry – growth of 11.5%
– Finance, real estate and business services – growth of 3.5%
– Wholesale, retail and motor trade; catering and accommodation industry – growth of 3,2%
• The improved GDP figures had a positive effect on the performance of the Rand
• The Rand hovered near four-weak highs against the dollar, and reach levels last seen in August 2012
• Strikes and slumping consumer and business confidence may limit growth in the second half of the year, according the
Reserve Bank, which lowered its forecast for economic growth for this year to 2% from 2.4% in July
• Growth at these levels will do little to assist employment – analysts agree that growth of 5% or more is required
SA Economic Indicators
for the month of July 2013
© 2013 Trade Intelligence
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Other Sources
ABSA Agri Trends; BizCommunity; Bloomberg; Business Day; Business Report; Department of
Agriculture, Forestry and Fisheries; Financial Mail; Finweek; Fin 24; The Mercury; Reuters; Stanlib,
Sunday Times; Sunday Tribune; The Times ; www.businesslive.co.za; www.businessweek.com;
www.moneyweb.co.za; www.supermarket.co.za; thesouthafrican.com
SA Economic Indicators
for the month of July 2013
© 2013 Trade Intelligence