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Covid lockdowns will influence economic growth

Jun 9, 2021
Statistics South Africa (StatsSA) reported on 8 June that the South African economy expanded by 1,1% quarter-on-quarter (q-o-q) and by 4,6% q-o-q on a seasonalised adjusted an annualised rate (saar).
Lullu Krugel, chief economist for PwC Strategy& Africa, and Dr Christie Viljoen, PwC Strategy& economist unpack the numbers.
Despite the positive growth rate, the economy was still 3,2% year-on-year (y-o-y) smaller during the period. This was slightly worse than the 3% y-o-y decline projected by a survey of local economists but less severe than the y-o-y readings seen since 2020Q2.
The negative y-o-y reading reflects an economy which remains smaller than it was in the pre-pandemic (2020Q1) period before strict lockdown measures resulted in a large recession during the second quarter of last year. ....

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SA's jobs recovery stalls - IT-Online

SA's jobs recovery stalls - IT-Online
it-online.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from it-online.co.za Daily Mail and Mail on Sunday newspapers.

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Inflation jumps to 4,3% in April

May 20, 2021
The Monetary Policy Committee (MPC) of the South African Reserve Bank (SARB) is expected to keep interest rates on hold this week.
This is the word from Lullu Krugel, chief economist for PwC Strategy& Africa, and Dr Christie Viljoen, PwC Strategy& economist, who unpack the latest inflation figures from Statistics SA.
Stats SA reported on May 19 that consumer price inflation increased from 3,2% year-on-year (y-o-y) in March to 4,4% y-o-y in April. The latest reading was slightly above expectations (4,3% y-o-y) and the highest reading in 14 months.
Nonetheless, the April reading was very near the midpoint of the South African Reserve Bank (SARB) target range of 3%-6%. The latest inflation data also continued to reflect a very favourable retail price environment – albeit with some upward pressure – for South African consumers hard hit by an economic recession. ....

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Inflation increases as fuel prices rise

Apr 22, 2021
Statistics South Africa (Stats SA) reported on April 21 that consumer price inflation increased from 2,9% y-o-y in February to 3,2% y-o-y in March.
Lullu Krugel, chief economist for PwC Strategy& Africa, and Dr Christie Viljoen, PwC Strategy& economist, unpack the numbers.
The latest reading was slightly below expectations (3,3% y-o-y) as education inflation (surveyed annually in March) came in at 4,1% y-o-y – the lowest in three decades.
Overall, March’s inflation report continued to reflect a very favourable retail price environment for South African consumers hard hit by an economic recession.
Headline inflation is comfortably at the lower end of the South African Reserve Bank (SARB) target range of 3%-6%. ....

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African private sector recovery lags global trend

African private sector recovery lags global trend
it-online.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from it-online.co.za Daily Mail and Mail on Sunday newspapers.

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