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.
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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
South Africa came out of its longest recession in 28 years as the economy rebounded more than projected in the third quarter.
South Africa’s headline consumer price inflation quickened to 3.3% year on year in October from 3% in September, data from Statistics South Africa showed on Wednesday.
South Africa’s unemployment rate jumped to 30.8% in the third quarter from 23.3% in the second quarter, the government statistics agency said on Thursday.
The number of employed people in South Africa dropped by 2.2 million to 14.1 million in the second quarter, according to a report from Statistics South Africa.
South Africa’s GDP slumped by 51% in the second quarter of 2020 as the result of one of the hardest Covid-19-related government lockdowns anywhere in the world.
Key South African data released this week suggests a record economic contraction in the second quarter as the damage wrought by a nationwide lockdown becomes clear.