South Africa’s unemployment rate rose to a new record high of 35.3% in the fourth quarter of 2021.
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Consumer inflation quickened faster than expected in December to 5.9% year on year, from 5.5% in November, setting the stage for another rate hike.
South Africa’s inflation rate jumped to the highest level in almost five years in November.
GDP decreased by 1.5% in the third quarter of 2021, providing a direct insight into just how badly July’s looting affected the economy.
South Africa’s economy is 11% bigger than previously estimated, after statistics authorities changed the way they calculate GDP.
South Africa’s headline unemployment rate hit a record high of 34.4% in the second quarter from 32.6% in the first three months of the year as businesses shed staff due to Covid-19 lockdowns.
Consumer price inflation accelerated to a 30-month high of 5.2% year on year in May, moving above the midpoint of the central bank’s target range for the first time since Covid-19 struck.
South Africa’s unemployment rate rose to a new record high of 32.6% in the first quarter of 2021 from 32.5% in the final quarter of 2020, the statistics agency said on Tuesday.
South Africa’s economy contracted the most in a century in 2020 as restrictions to curb the spread of the coronavirus pandemic ravaged output and disrupted trade.
South African retail sales fell more than expected in November, despite deeper Black Friday discounts and month-long promotions, pointing to lingering weakness in the economy