South Africa's Gross Domestic Product (GDP) came in lower than expected, increasing by 1.4% in the third quarter of 2011. "The seasonally adjusted real GDP at market prices for the third quarter of 2011 increased by an annualised rate of 1.4% compared with an increase of 1.3% in the second quarter of 2011," said Statistics South Africa (Stats SA) on Wednesday. A Bloomberg survey had expected that GDP would come in at 1.9% in the third quarter. The finance, real estate and business … [Read more...] about SA’s GDP Growth Lower Than Expected
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CPI reaches 6% in October
The Consumer Price Index (CPI) in October rose to 6%, reaching the upper end of the target range, Statistics South Africa (Stats SA) said today. "This rate was 0.3 of a percentage point higher than the corresponding annual rate of 5.7% in September 2011. On average, prices increased by 0.5% between September 2011 and October 2011," said Stats SA on Wednesday. The Reserve Bank targets inflation between three and six percent. Consensus was that CPI would reach 5.9% in October, with … [Read more...] about CPI reaches 6% in October
Just a Thought about the Million South Africans doing Volunteer Work
In the second quarter of 2011, about 1.2 million South Africans were involved in volunteer work, says Statistics South Africa (Stats SA). According to the Volunteer Activities Survey (VAS) - which collects data about people involved in volunteer activities and also aims to estimate the economic value of volunteer work - direct volunteering accounted for 53.9% of total volunteer work while 36.8 volunteered through organisations - such as church organisations. The survey found that white … [Read more...] about Just a Thought about the Million South Africans doing Volunteer Work
Eastern Cape Unemployment Rises Whilst SA Unemployment Eases
South Africa's unemployment rate decreased to 25% in the third quarter from 25.7% in the second quarter of 2011, said Statistics South Africa (Stats SA) as it released its Quarterly Labour Force Survey (QLFS). In the third quarter, total employment rose by 193 000 in the quarter ended September, making it the highest increase seen since the 2009 recession. "This is the first time that employment increases in the third quarter since 2008," acting executive manager for household labour … [Read more...] about Eastern Cape Unemployment Rises Whilst SA Unemployment Eases
CPI rises to 5.7% in September
The Consumer Price Index in September rose to 5.7%, Statistics South Africa (Stats SA) said. "This rate was 0.4 of a percentage point higher than the corresponding annual rate of 5.3% in August 2011. On average, prices increased by 0.4% between August 2011 and September 2011," said Stats SA on Wednesday. According to Stats SA, the food and non-alcoholic beverages index increased by 1%, while the housing and utilities index increased by 0.6% between August and September 2011 mainly due to … [Read more...] about CPI rises to 5.7% in September
PPI rises by 9.6% in August
The Producer Price Index (PPI) increased by 9.6% in August, according to Statistics South Africa (Stats SA). "This rate is 0.7 of a percentage point higher than the corresponding annual rate of +8.9% in July 2011," said Stats SA on Thursday. The market had expected it to increase to 9% in August. The increase could be attributed to increases in the electricity price, mining and quarrying, products of petroleum and coal, agriculture, other manufacturers as well as electrical machinery … [Read more...] about PPI rises by 9.6% in August
Higher Rate of Entry into Employment Market by Whites Compared to Blacks
The effects of the economic downturn could still be felt in 2010, with 395 000 fewer employed people in South Africa, Statistics South Africa (Stats SA) said on today. "On average, there were 13.1 million people employed in 2010 compared with 13.5 million in 2009, indicating that the country had not fully recovered from the economic recession experienced in 2009," said Stats SA's Deputy Director Generator for Population and Social Statistics, Kefiloe Masiteng. The rate of decline in 2010 … [Read more...] about Higher Rate of Entry into Employment Market by Whites Compared to Blacks
July CPI Rises to 5.3%
The Consumer Price Index (CPI) rose to 5.3% ahead of market expectation, Statistics South Africa (Stats SA) said on Wednesday. Standard Bank economist Shireen Darmalingam said the figure came out slightly higher than the 5% analysts had forecasted. Stats SA said on average, prices increased by 0.9% between June and July 2011. This was mainly due to an increase in electricity prices (which increased by 16%) and an 8.7% increase in water and other services, among others. In June, CPI rose … [Read more...] about July CPI Rises to 5.3%
Retail Sales Up 2.2% Year-on-year
Retail trade sales increased by 2.2% year-on-year in June from a revised 0.2% in May, Statistics South Africa (Stats SA) said. According to Stats SA, the highest annual growth rate was recorded for retailers in pharmaceutical and medical goods, cosmetics and toiletries, followed by retailers in household furniture, appliances and equipment, and general dealers. Retail trade sales for the second quarter of the year showed an increase of 4.1% compared with the second quarter of 2010. General … [Read more...] about Retail Sales Up 2.2% Year-on-year
May Retail Trade Sales Flat Line
Retail trade sales in May showed a 0.0% growth year-on-year following the 10% year-on-year increase recorded in April, said Statistics South Africa (Stats SA). According to Stats SA, in real terms seasonally adjusted retail trade sales decreased by 4.7% in May compared to April 2011. Sales were weaker than what was expected. "Although April's high base contributed, May's figures were much weaker than market consensus forecast of a 7.2% rise," said Nedbank. Retail trade sales in real … [Read more...] about May Retail Trade Sales Flat Line
May CPI Rises
The Consumer Price Index (CPI) in May rose above market expectation to 4.6 percent, Statistics South Africa (Stats SA) said on Wednesday. "The headline CPI annual inflation rate in May 2011 was 4.6 percent. This rate was 0.4 of a percentage point higher than the corresponding annual rate of 4.2 percent in April 2011," said Stats SA. Market expectation was that CPI would rise to 4.3 percent year-on-year. On average, prices increased by 0.5 percent between April 2011 and May 2011 with high … [Read more...] about May CPI Rises
First Quarter GDP Rises to 4.8%
Pretoria - The South African economy showed growth in the first quarter of 2011 to 4.8 percent, Statistics South Africa (Stats SA) said on Tuesday. "Real Gross Domestic Product (GDP) at market prices increased by 4.8 percent during the first quarter of 2011," GDP manager at Stats SA, Kedibone Mabaso said. GDP was expected to come in at 4.2 percent. "We were surprised by the number. It is a very good number and good showing by the manufacturing sector," said Standard Bank senior … [Read more...] about First Quarter GDP Rises to 4.8%
April PPI Slows to 6.6%
The Producer Price Index (PPI) in April slowed to 6.6 percent, Statistics South Africa (Stats SA) said on Thursday. "This rate is 0.7 of a percentage point lower than the corresponding annual rate of 7.3 percent in March 2011," Stats SA said of the PPI, which is the price of goods leaving factories as well as mines. The lower rate, said Stats SA, could be due to decreases in the annual rate of change in mining and quarrying, basic metals, other manufactures, beverages and non-metallic … [Read more...] about April PPI Slows to 6.6%
April CPI Rises to 4.2 Percent
The Consumer Price Index (CPI) in April rose to 4.2 percent, Statistics South Africa (Stats SA) said on Tuesday. "This rate was 0.1 of a percentage point higher than the corresponding annual rate of 4.1 percent in March 2011," said Stats SA. Market expectation was that it would come in at 4.4 percent. "Consumer inflation rose by less than expected," the Nedbank group of economists said. Stats SA said the food and non-alcoholic beverages index decreased by 0.1 percent between March and … [Read more...] about April CPI Rises to 4.2 Percent
March PPI Up
The Producer Price Index (PPI) in March rose to 7.3 percent in line with market expectation. "The annual percentage change in the PPI was 7.3 percent in March 2011. This rate is 0.6 of a percentage point higher than the corresponding annual rate of 6.7 percent in February 2011," Statistics South Africa (Stats SA) said on Thursday. Driven mainly by higher commodity as well as chemical prices, producer inflation rose by 0.9 percent over the month of March. "However, food prices remain … [Read more...] about March PPI Up
