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South Africa

Macroeconomy

Markets

Finance & Banking

Geostrategy

Key Indicators

BOP
Current Account, Balance, ZAR - South Africa
-19061, -24918, -15403, -24445, -3901 -3,901
ZAF GDP
Constant Prices, Growth rate same period previous year, SA, % - South Africa
-2.56, -1.62, 1.43, 2.97, 3.69 3.69
ZAF Production in total manufacturing sa
Index, Publication Base Year (2000), SA, 2005Y - South Africa
5.23, 7.7, 9.63, 8.94, 8.64 8.64
ZAF Unemployment rate
survey-based (all persons) Stock or Quantum, % - South Africa
23.6, 24.5, 24.3, 25.2, 25.3 25.3
CPI
Total, 2008=100 - South Africa
3.48, 3.65, 3.72, 4.14, 4.22 4.22
Retail Sales Value
Total, Million ZAR - South Africa
5.75, 5.84, 9.16, 9.29, 5.26 5.26
data by Factset

South Africa Outlook: Slightly More Sanguine

South Africa’s economy continues to recover, but domestic supply constraints and the uncertain external environment will pose challenges. Rising inflationary pressures, chronic unemployment and persistent household indebtedness will constrain private consumption, while strikes, political uncertainty and financing costs impair investment. The South African Reserve Bank (SARB) will keep the policy interest rate steady at 5.5% throughout 2012 and begin tightening only gradually in 2013. Both the monetary and fiscal stance remain constrained.

Read the latest South Africa Outlook

Economic Research

Economic Research

South Africa Policy Debate to Amplify Economic Risks

By Maya Senussi and Rachel Ziemba Apr 30, 2012

Global Economic Outlook

Gulf Cooperation Council Outlook: Still Booming, Multispeed

By Rachel Ziemba and Maya Senussi Mar 21, 2012

Global Economic Outlook

South Africa Outlook: Slightly More Sanguine

By Maya Senussi Mar 9, 2012

Economic Research

Africa’s Balance Sheets: Strong for Now, But Don’t Ignore the Warning Signs

By Maya Senussi and Rachel Ziemba Mar 8, 2012

Central Bank Watch

South African Reserve Bank: Maintaining Accommodative Stance

By Maya Senussi Feb 9, 2012

Central Bank Watch

South African Reserve Bank: December Update

By Maya Senussi Dec 15, 2011

Global Economic Outlook

South Africa Outlook: Sub-Par Recovery Hit By Global Woes

By Maya Senussi Dec 2, 2011

Economic Research

BRICs in Africa: After More Than Just Resources

By Maya Senussi and Rachel Ziemba Nov 22, 2011

Central Bank Watch

South African Reserve Bank: November Update

By Maya Senussi Nov 17, 2011

Central Bank Watch

Pulling Out Policy Rabbits, Putting Policy Ducks in a Row

By Michael Manetta and the RGE Economic Research Team Oct 4, 2011

Global Economic Outlook

Sub-Saharan Africa Outlook Update: Resiliency Tested

By Maya Senussi and Rachel Ziemba Sep 19, 2011

Global Economic Outlook

South Africa Outlook Update: Ailing Recovery

By Maya Senussi Aug 30, 2011

Central Bank Watch

Summary Table: RGE Policy Rate Forecasts and Market Interbank Rate Expectations

By Michael Manetta and the RGE Economic Research Team Aug 19, 2011

Central Bank Watch

South African Reserve Bank: August Update

By Maya Senussi and Rachel Ziemba Aug 19, 2011

Mena Focus

MENA Looks for New Markets: Trade Ties Shifting Slowly

By Maya Senussi, Rachel Ziemba and John Prosser Aug 5, 2011

Global Economic Outlook

Sub-Saharan Africa Outlook Update: Resilient to Global Headwinds

By Maya Senussi and Rachel Ziemba Jun 17, 2011

Global Economic Outlook

South Africa Outlook Update: Focus on Growth

By Maya Senussi Jun 16, 2011

Economic Research

Central Bank Watch: The Shifting Tides of Global Monetary Policy

By James Mason and the RGE Economic Research Team Jun 8, 2011

Economic Research

Current Account Deficit Alert: Domestic Policies, not Foreign Capital, Will Shield Brazil, India, Turkey and South Africa

By Arpitha Bykere, Juan Lorenzo Maldonado, David Rogovic, Rachel Ziemba and Maya Senussi Jun 2, 2011

Global Economic Outlook

South Africa Outlook Update: Still No Hurry to Tighten

By Maya Senussi and Rachel Ziemba May 4, 2011

Mena Focus

Monetary Dilemmas in MENA

By Ayah El Said and Rachel Ziemba Apr 14, 2011

Economic Research

South Africa: When BRIC Became BRICS…

By Maya Senussi and Rachel Ziemba Apr 12, 2011

Global Economic Outlook

South Africa Outlook: Slowly but Surely

By Kavitha Cherian and Rachel Ziemba Mar 17, 2011

Global Economic Outlook

Global Overview: 2011 Outlook

By Christian Menegatti, Nouriel Roubini and the RGE Macroeconomics Team Dec 7, 2010

Global Economic Outlook

Middle East and North Africa: 2011 Outlook

By Ayah El Said and Rachel Ziemba Dec 7, 2010

Global Economic Outlook

Sub-Saharan Africa: 2011 Outlook

By Kavitha Cherian and Rachel Ziemba Dec 7, 2010

Global Economic Outlook

Macro Forecasts: 2011 Outlook

By the RGE Macroeconomics Team Dec 7, 2010

Economic Research

South African Labor Market: Holding Back Growth?

By Kavitha Cherian and Rachel Ziemba Oct 29, 2010

Global Economic Outlook

Middle East and North Africa: September 2010 Outlook Update

By Rachel Ziemba and Ayah El Said Sep 10, 2010

Global Economic Outlook

Global Overview: September 2010 Outlook Update

By Nouriel Roubini, Christian Menegatti and the RGE Macroeconomic Team Sep 10, 2010

Global Economic Outlook

South Africa: September 2010 Outlook Update

By Kavitha Cherian Sep 10, 2010

Global Economic Outlook

Sub-Saharan Africa: Q3 2010 Outlook

By Kavitha Cherian and Rachel Ziemba Jul 10, 2010

Global Economic Outlook

South Africa: Q3 2010 Outlook

By Kavitha Cherian Jul 10, 2010

Economic Research

South Africa: Will the Cup Runneth Over?

By Kavitha Cherian and Rachel Ziemba Jun 11, 2010

Economic Research

South Africa: Will Weak Private Sector Credit Expansion Restrain Growth?

By Kavitha Cherian and Rachel Ziemba May 12, 2010

Global Economic Outlook

South Africa: Q2 2010 Outlook

By Kavitha Cherian Apr 12, 2010

Global Economic Outlook

South Africa: Q1 2010 Outlook

By Kavitha Cherian Jan 30, 2010

Economic Research

Carry Trade Hotspots: A Currency by Currency Forecast for 2010

By Mikka Pineda, Mary Stokes, Bertrand Delgado, Mikko Forss, Kavitha Cherian, Arpitha Bykere and Christian Menegatti Jan 4, 2010

Economic Research

Come to Mother: An RGE Strategy for the 2010 Carry Trade

By Arnab Das, Natalia Gurushina, Jennifer Kapila, Elisa Parisi-Capone Jan 4, 2010

Economic Research

South Africa Economic Outlook, Q4 2009

By Kavitha Cherian Oct 7, 2009

Economic Research

South Africa Economic Outlook, Q3 2009

By Kavitha Cherian Jul 24, 2009

EconoMonitors

Emerging Markets Channel

South Africa’s Unemployment Puzzle

Abebe Aemro Selassie Apr 4, 2011

Emerging Markets Channel

South Africa: Inflation Threatens

Kavitha Cherian & Rachel Ziemba Nov 1, 2010

The Kapali Carsi

For South Africa, the Vuvuzelas Blow

Emre Deliveli Jun 25, 2010

RGE Analysts

RGE's Wednesday Note: The Economics of the World Cup

Kavitha Cherian & Rachel Ziemba Jun 16, 2010

Daily Digest

Analysis

South Africa: CPI, April 2012

Statistics South Africa  May 23, 2012

Opinions

African child mortality: The best story in development

The Economist  May 19, 2012

News

South Africa Output Less Than Forecast, Gordhan Says

Bloomberg  Mike Cohen and Franz Wild May 18, 2012

Analysis

South Africa/ZA Quarterly - Quarterly Review - Q2:12

Standard Bank  Shireen Darmalingam, Johan Botha, Sibusiso Gumbi, Tebogo Mosepele, Thabi Leoka and Bruce Donald May 17, 2012

News

South Africa/ZA Today - Bias towards weaker rand remains

Standard Bank  Nomvuyo Guma May 17, 2012

News

Botswana: South Africa ups stakes in trade dominance battle

The Monitor (Botswana)  Brian Benza May 16, 2012

News

SA headed for stalemate over AU and has nothing up its sleeve

Daily Maverick (South Africa)  Simon Allison May 17, 2012

Analysis

EMEA Weekly: South Africa in focus

Danske Bank  May 17, 2012

News

Moody's Cites Concerns on South African Policy .

Wall Street Journal  May 16, 2012

News

South Africa/ZA Data Release - Retail sales remained encouraging in March

Standard Bank  Tebogo Mosepele May 16, 2012

News

South Africa: Car sales skyrocket by 10%

iafrica  May 16, 2012

News

South Africa’s Retail Sales Decline in First Quarter

Bloomberg  Franz Wild and Andres R. Martinez May 16, 2012

News

S.Africa to help banks meet Basel liquidity

Reuters  Helen Nyambura-Mwaura May 15, 2012

Blogs

S Africa: mining safety debate masks deeper problems

beyond brics (FT)  Andrew England May 14, 2012

Blogs

Rising tribalism in South Africa - Issue 584

Pambazuka  William Gumede May 09, 2012

News

SA aims to lift savings, cut budget strain

Business Day  Xola Potelwa May 14, 2012

Blogs

South Africa’s Unemployment Grows

Council on Foreign Relations  John Campbell May 11, 2012

News

South Africa’s Economy to Grow About 3%, Gordhan Says

Bloomberg  Franz Wild and Andres R. Martinez May 11, 2012

News

South African Inflation Mostly of ‘Cost-Push’ Nature

Bloomberg  Gordon Bell May 11, 2012

Analysis

South Africa Mining Production and Sales, March 2012

Statistics South Africa  May 10, 2012

Opinions

South Africa: Is a fiscal policy council the answer?

Sanlam  Jac Laubscher May 08, 2012

News

Jobs Data Stir Worries in South Africa .

Wall Street Journal  May 08, 2012

News

South Africa: SA ‘losing’ to emerging rivals in bid for investors

Business Day  Sure Kamhunga May 08, 2012

Blogs

U.S.-South Africa Cooperation

Council on Foreign Relations  John Campbell May 07, 2012

Opinions

South African jobs data 1Q2012

First National Bank (South Africa)  Cees Bruggemans May 08, 2012

News

South African Central Bank Has No Room to Cut Rates

Bloomberg  Franz Wild May 08, 2012

Analysis

South Africa Policy Debate to Amplify Economic Risks

Roubini Global Economics  Rachel Ziemba and Maya Senussi Apr 30, 2012

Blogs

South Africa: The Impact of Iran's Oil Sanctions

Think Africa Press  Exclusive Analysis May 04, 2012

News

A Lack of Jobs Levies Pain on South Africa

Wall Street Journal  May 06, 2012

News

S.Africa's rand seen stronger in 12 mths

Reuters  Vuyani Ndaba May 03, 2012

News

South Africa: ZA Data Release - PMI moderates to 53.7 in April

Standard Bank  Tebogo Mosepele May 02, 2012

Opinions

South Africa data suggests sustainable expansion

First National Bank (South Africa)  Cees Bruggemans May 02, 2012

News

South Africa’s PMI Declines for Second Month in April

Bloomberg  Andres R. Martinez May 02, 2012

Analysis

South Africa PMI, April 2012

Kagiso  May 02, 2012

Blogs

South Africa: Aspen Pharmacare extends EM reach

beyond brics (FT)  Andrew England Apr 27, 2012

News

South Africa: ZA Data Release - Credit extension powered ahead in March

Standard Bank  Tebogo Mosepele Apr 30, 2012

News

South African Credit Expands at Fastest Pace in 3 Years

Bloomberg  Andres R. Martinez Apr 30, 2012

News

South African Trade Gap Narrows as Iron Ore Exports Surge

Bloomberg  Andres R. Martinez Apr 30, 2012

News

South African Trade Gap Narrows as Iron Ore Exports Surge

Bloomberg  Andres R. Martinez Apr 30, 2012

News

South Africa: SA postpones controversial road toll project

Africa Review  Benon Herbert Oluka Apr 27, 2012

Analysis

EMEA Bi-Weekly- Here we go again

Commerzbank AG  Apr 27, 2012

News

South Africa: ZA Macro Strategy Viewpoint - Macro story more interest rate friendly

Standard Bank  Jeremy Stevens, Adriaan du Toit, Thabi Leoka and Bruce Donald Apr 26, 2012

News

South Africa Weekly Outlook - Trade balance to register a deficit

Standard Bank  Thabi Leoka and Bruce Donald Apr 26, 2012

News

South Africa’s Producer-Price Inflation Slows For a Fifth Month in March

Bloomberg  Andres R. Martinez Apr 26, 2012

News

South Africa: New petrol price announced

iafrica  Apr 25, 2012

News

South African Unsecured Credit Growth Too Fast, SARB Says

Bloomberg  Andres R. Martinez Apr 25, 2012

News

South Africa Ruling Party Upholds Move to Oust Youth Leader .

Wall Street Journal  Devon Maylie Apr 24, 2012

News

S.Africa's apartheid land fix withers in fields

Reuters  Jon Herskovitz and Olivia Kumwenda Apr 24, 2012

News

South Africa: Big fuel price hike coming

iafrica  Rafiq Wagiet Apr 24, 2012

News

S.Africa's Zuma on track for second term

Reuters  Peroshni Govender Apr 24, 2012

Opinions

South Africa: Readying the next wave of market unrest

First National Bank (South Africa)  Cees Bruggemans Apr 23, 2012

Opinions

Q&A: Increasing Investment Opportunities in Africa - interview of Nicky Newton-King

Inter Press Service (IPS) Africa  Kristin Palitza Apr 20, 2012

News

Nigeria grows nose for South African wine exports

Business Day  Hopewell Radebe Apr 20, 2012

News

South Africa: 'Strong rand isn't good'

iafrica  Stephen Grootes Apr 20, 2012

News

Botswana prepares to generate more of its own power

Business Day  Siseko Njobeni Apr 20, 2012