Markets Actual Q2/23 Q3/23 Q4/23 Q1/24
Currency 18.85 19.98 20.48 20.99 21.51
Stock Market (points) 77015.21 74689 72329 70046 67832
Government Bond 10Y (%) 10.83 11.4 11.56 11.71 11.87

Overview Actual Q2/23 Q3/23 Q4/23 Q1/24
GDP Growth Rate (%) 0.40 0.5 0.7 1.4 0.7
GDP Annual Growth Rate (%) 0.20 1.1 1.3 0.3 1
Unemployment Rate (%) 32.90 33 34.2 34.2 34
Inflation Rate (%) 6.80 6.4 5.7 6.2 5.4
Inflation Rate MoM (%) 0.40 0.3 0.2 0.3 0.1
Interest Rate (%) 8.25 8.25 8.25 8 7.75
Balance of Trade (ZAR Million) 3540.00 -16000 7000 0 9000
Current Account (ZAR Million) -66200.00 210000 170000 156000 165000
Business Confidence (points) 27.00 30 27 30 35
Manufacturing PMI (points) 49.20 48.8 51.7 52.7 53.1
Consumer Confidence (points) -23.00 -17 -13 -10 -5
Retail Sales MoM (%) -0.70 -0.6 1.2 0.3 0.5
Current Account to GDP (% of GDP) -0.50 -2.5
Government Debt to GDP (% of GDP) 67.40 70.1
Government Budget (% of GDP) -4.20 -4

GDP Actual Q2/23 Q3/23 Q4/23 Q1/24
GDP Growth Rate (%) 0.40 0.5 0.7 1.4 0.7
GDP Annual Growth Rate (%) 0.20 1.1 1.3 0.3 1
GDP Constant Prices (ZAR Million) 4596782.10 4601234 4690201 4591237 4642750
Gross National Product (ZAR Million) 4591413.00 4673647 4756974 4605187 4637327
Gross Fixed Capital Formation (ZAR Million) 687604.80 672562 676665 679882 694481
GDP from Agriculture (ZAR Million) 127319.09 114414 150629 145611 128592
GDP from Construction (ZAR Million) 111869.68 107090 111670 111018 112988
GDP from Manufacturing (ZAR Million) 524415.37 520248 529768 518036 529660
GDP from Mining (ZAR Million) 200109.59 202801 207096 198868 202111
GDP from Public Administration (ZAR Million) 370102.85 374289 376590 370383 373804
GDP from Services (ZAR Million) 1092750.50 1102940 1117127 1088953 1103678
GDP from Transport (ZAR Million) 379300.35 363594 376840 376299 383093
GDP from Utilities (ZAR Million) 96569.51 103364 100827 97847 97535
GDP (USD Billion) 419.02 420
GDP per Capita (USD) 5947.89 5966
GDP per Capita PPP (USD) 13311.93 13352
Full Year GDP Growth (%) 2.00 0.3

Labour Actual Q2/23 Q3/23 Q4/23 Q1/24
Unemployment Rate (%) 32.90 33 34.2 34.2 34
Employed Persons 16192.28 14700 15300 15600 15450
Unemployed Persons (Thousand ) 7933.00 8100 7900 8000 7800
Labor Force Participation Rate (%) 59.40 59.6 59.2 59 58.5
Employment Rate (%) 39.90 38.5 37.4 39 38.5
Youth Unemployment Rate (%) 62.10 64.5 66 65.8 64.6
Population (Million) 59.89 61
Minimum Wages (ZAR/Hour) 25.42 25.42

Prices Actual Q2/23 Q3/23 Q4/23 Q1/24
Inflation Rate (%) 6.80 6.4 5.7 6.2 5.4
Inflation Rate MoM (%) 0.40 0.3 0.2 0.3 0.1
Consumer Price Index CPI (points) 109.40 111 112 114 115
Core Consumer Prices (points) 107.30 108 110 110 112
Core Inflation Rate (%) 5.30 5.3 5.4 5.3 5.2
Producer Prices (points) 127.20 133 135 136 137
Producer Prices Change (%) 8.60 9.4 8.5 8 8
Export Prices (points) 172.70 178 182 176 168
Import Prices (points) 165.10 173 154 145 137
Food Inflation (%) 13.90 13.5 10.5 9.5 8
Producer Price Inflation MoM (%) 0.00 0.7 0.5 0.4 0.4
Core Inflation Rate MoM (%) 0.50 0.5 0.4 0.3 0.6
CPI Housing Utilities (points) 104.60 108 110 111 110
CPI Transportation (points) 113.10 113 114 114 114
Inflation Expectations (%) 5.84 6 6.2 6.3 6

Money Actual Q2/23 Q3/23 Q4/23 Q1/24
Interest Rate (%) 8.25 8.25 8.25 8 7.75
Interbank Rate (%) 8.48 8.48 8.48 8.23 7.98
Money Supply M0 (ZAR Million) 389709.00 358000 361000 360500 358700
Money Supply M1 (ZAR Million) 2517353.00 2430000 2410000 2420000 2370000
Money Supply M2 (ZAR Million) 4008914.00 3880000 3785000 3900000 3870000
Money Supply M3 (ZAR Million) 4909344.00 4580000 4620000 4640000 4615000
Foreign Exchange Reserves (USD Million) 61296.00 62000 61000 59500 60700
Banks Balance Sheet (ZAR Million) 7424489.00 7400000 7150000 7450000 7600000
Loans to Private Sector (ZAR Million) 4498282.00 4328031 4468543 4428433 4538549
Deposit Interest Rate (%) 6.42 6.42 6.42 6.17 5.92
Central Bank Balance Sheet (ZAR Million) 1189545.00 1200000 1175000 1270000 1225000
Lending Rate (%) 11.80 11.8 11.8 11.55 11.3

Trade Actual Q2/23 Q3/23 Q4/23 Q1/24
Balance of Trade (ZAR Million) 3540.00 -16000 7000 0 9000
Current Account (ZAR Million) -66200.00 210000 170000 156000 165000
Imports (ZAR Million) 160277.83 166000 158000 170000 165000
Exports (ZAR Million) 163818.11 150000 165000 170000 174000
Tourist Arrivals 979032.00 795000 815000 840000 680000
Foreign Direct Investment (ZAR Billion) 66958.00 12000 8000 10500 12000
Terms of Trade (points) 104.60 103 118 121 123
Current Account to GDP (% of GDP) -0.50 -2.5

Government Actual Q2/23 Q3/23 Q4/23 Q1/24
Government Budget Value (ZAR Million) -78616.00 -45000 -88000 -40000 -43000
Government Spending (ZAR Million) 906744.00 907282 913550 898313 915811
Government Revenues (ZAR Million) 171734.00 130000 95000 140000 125000
Government Debt (USD Million) 75360.00 80050 81500 81000 79500
Fiscal Expenditure (ZAR Million) 163327.00 175000 183000 180000 168000
Government Debt to GDP (% of GDP) 67.40 70.1
Government Budget (% of GDP) -4.20 -4

Business Actual Q2/23 Q3/23 Q4/23 Q1/24
Business Confidence (points) 27.00 30 27 30 35
Manufacturing PMI (points) 49.20 48.8 51.7 52.7 53.1
Industrial Production (%) 3.40 1.2 2 1.5 2.1
Industrial Production Mom (%) 0.50 1.4 3 2.5 0.7
Capacity Utilization (%) 78.30 76 77 79 76
Bankruptcies (Companies) 112.00 158 145 162 138
Total Vehicle Sales (Units) 43060.00 46000 44000 43000 38500
Car Registrations (Units) 27401.00 32800 32500 34000 31700
Leading Economic Index (%) -2.00 1 1.5 1.3 0.8
Gold Production (%) 21.60 1.8 3 2.7 3.1
Composite PMI (points) 47.90 49.5 50.3 51.4 50.3
Coincident Index (points) 111.30 108 110 109 107
Electricity Production (Gigawatt-hour) 17671.00 19300 20200 18900 20050
Mining Production (%) -2.60 1.5 -0.8 1.8 2

Consumer Actual Q2/23 Q3/23 Q4/23 Q1/24
Consumer Confidence (points) -23.00 -17 -13 -10 -5
Retail Sales MoM (%) -0.70 -0.6 1.2 0.3 0.5
Retail Sales YoY (%) -1.60 1.5 2.5 1.2 0.9
Consumer Spending (ZAR Million) 3094097.00 3096570 3100601 3091118 3125038
Disposable Personal Income (ZAR Million) 4335366.00 4185406 4275870 4348372 4378720
Private Sector Credit (%) 7.10 5 4.8 4.5 4.5
Bank Lending Rate (%) 11.80 11.8 11.8 11.55 11.3
Gasoline Prices (USD/Liter) 1.19 1.23 1.27 1.31 1.35
Households Debt to Income (%) 62.60 67

Housing Actual Q2/23 Q3/23 Q4/23 Q1/24
Building Permits (ZAR Thousand) 9108835.00 9850000 10500000 11000000 9950000