Economic growth improves in the 2nd quarter, but probably not enough to prevent further labour shedding and Consumer Confidence weakness just yet
Gross Domestic Product for the 2nd Quarter of 2016 showed some mild improvement, returning to positive growth after a 1st Quarter contraction.
July CPI inflation slows, but the low income groups are still being hit hard by rampant food price inflation
The July Consumer Price Index (CPI) year-on-year inflation rate slowed from a previous month’s 6.3% to 6.0%, thus sitting virtually in the 6% upper limit of the SARB’s (Reserve Bank) 3-6% inflation target range.
Repo rate unchanged in July
The Reserve Bank on Thursday kept the repo rate unchanged at 7% - in line with market expectations.
Retail property sector forecast points to a mild slowdown
According to John Loos, a mild slowdown for the Consumer and Retail Property sector is projected based on an FNB macroeconomic scenario where recession is avoided, inflation is moderate, and interest rates have just about peaked.
GDP contracts in first quarter of 2016
South Africa’s Gross Domestic Product (GDP) contracted by 1.2% in the first quarter of 2016, Statistics South Africa (Stats SA) announced on Wednesday.
Repo rate remains unchanged at 7%
The Reserve Bank on Thursday kept South Africa’s repo rate unchanged at 7 percent per annum.
Capital outflows likely if SA downgraded
The Reserve Bank says a further rating downgrade of South Africa could lead to capital outflows.
With South Africa’s rising inflation, the Reserve Bank says it is necessary to raise interest rates
“Tolerating additional inflation in the short run could require larger interest rate adjustments later, with proportionally greater costs for the economy.
FNB/BER Civil Confidence Index - Weaker construction activity weighs on confidence in 1Q/2016
After improving marginally to 42 in 4Q2015, the FNB/BER Civil Confidence Index lost 14 points to register a level of 28 in 1Q2016.
Reserve Bank raises repo rate to 7%
The Reserve Bank on Thursday increased South Africa’s repo rate by 25 basis points to 7% per annum.
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