The US economic recovery remains on track, despite softer jobs growth in August. However, growth estimates for Europe has been lowered further. The ECB unexpectedly cut its main interest rate in September and announced an asset-purchase programme, measures aimed at stimulating growth and preventing deflation.
Owing to the severe disruptions caused by Amcu’s mining strike during the first half of 2014, primary sector gross value added (GVA) contracted by a further 5.1% (quarter-on-quarter seasonally adjusted annualised rate - q/q saar) in the second quarter of 2014. This followed a contraction of 17.2% in the first quarter. We have consequently again scaled back our growth expectations for 2014 to only 1.4%. Gross domestic expenditure growth may slow to only 0.6% y/y in 2014. This would basically render the overall growth rate very dependent on an enhanced export performance—expected to amount to 3.1% y/y—to add more value to the country’s gross domestic product.
What is the SA Economic Review?
The SA Economic Review is an 18-page report that provides a quarterly overview of the performance of the international and South African economy. A 5-Year forecasts are also provided and the report covers the following topics:
- SA economic growth – demand and supply side
- Gross fixed capital formation
- Debt and saving
- Employment
- Inflation
- Monetary policy & interest rates
- Exchange rates
- Balance of payments
- Fiscal Policy and Bond Yields
- and the JSE equity market performance
How do I access the report?
For a limited time, the report is available at no cost. To view and download the report in PDF, visit www.easydata.co.za and register for a free account.