SA Economic Indicators: for the month of May 2013

SA Economic Indicators for the month of May 2013 © 2013 Trade Intelligence SA Economic Indicators Economic Growth (GDP) Updated quarterly (Last updated June 2013) Source: StatsSA

SA Economic Indicators for the month of May 2013 © 2013 Trade Intelligence SA Economic Indicators Economic Growth (GDP) COMMENTARY According to the International Monetary Fund (IMF) revisions, world GDP growth is expected to reach 3.9% in July and 3.6% in October IMF forecasts growth for South Africa to be 3.6% between 2012 and 2016 For the latest period: GDP growth rose by 0.9% in Q1/2013, down from 2.1% in Q4/2012. The result was much weaker than expected with forecasts ranging from 1.4% to 2.7% The nominal GDP value was R814bn, R1bn less than Q4/2012 The largest contributors to GDP growth in Q1 were: –Agriculture, forestry and fishing industry – growth of 4% –Mining and quarrying industry – growth of 3.7% (up from negative growth of -9.3% in Q4/2012) –General government services – growth of 2.5% Manufacturing saw negative growth of -7.9% The modest GDP figures had a negative effect on the performance of the Rand It reached a low of R10.08 to the US dollar at time of writing “South Africa is suffering a double whammy of a global economy that is muddling along and weak domestic fundamentals.” Elize Kruger, economist at KADD Capital Growth at these levels will do little to assist employment – analysts agree that growth of 5% or more is required

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