SA Economic Indicators Report updated: May 2016 Next update: June 2016 SA Economic Indicators

SA Economic Indicators What is the SA Economic Indicators report? Ti’s SA Economic Indicators report is a clear and easy-to-read view of the most currently available data for South Africa’s key economic indicators. Produced on a monthly basis by Ti Research, it draws on official information from various public and private institutions. The report is released in the first week of each new month, reporting on the available data up to and including the last day of the previous month. How to read this report Depending on the indicator itself, data is released by the various institutions on a daily, monthly or quarterly basis. The frequency and release date has been indicated at the foot of each slide, next to the data source. These dates are indicative however, since the institutions may publish the data with a delay. Data lag: Data availability varies according to the data source, at times with a lag of a couple of months. e.g. Retail Trade Sales for July 2015 were released with a two-month lag in September 2015 GDP figures for Q2/2015 were released two months after Q2 (i.e. in August 2015) Readers are reminded to bear this data lag in mind when looking for parallels between indicators. It might therefore be necessary to go back to previous months’ reports in order to correctly analyse indicators over the same reporting periods.

SA Economic Indicators Exchange Rate | 2011 – 2016 SOURCE: X-Rates.com | Frequency: Daily

SA Economic Indicators Exchange Rate | April 2015 – April 2016 SOURCE: X-Rates.com | Frequency: Daily

SA Economic Indicators Exchange Rate COMMENTARY The rand weakened year-on-year against the $, £ and € in April 2016 The rand strengthened in April month-on-month supported by a surge in inflows into the bond market, gaining for three consecutive months The rand is expected to decline in May as a possible rating downgrade looms – returning close to R15/$ Exchange Rate Movements April 2015 April 2016 US$ R11,98 R14,60 (R weakened 22%) € R12,96 R16,56 (R weakened 28%) £ R17,92 R20,89 (R weakened 17%)

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Maryla Masojada | Head Analyst Tarryn Butler | Senior Retail Analyst