Markets Actual Q4/24 Q1/25 Q2/25 Q3/25
Stock Market (points) 85608.47 85103 83895 82703 81529
Currency 18.11 17.84 18.05 18.26 18.48
Government Bond 10Y (%) 8.98 9.5 9.43 9.36 9.29

Overview Actual Q4/24 Q1/25 Q2/25 Q3/25
GDP Growth Rate (%) 0.40 1 0.6 0.4 0.9
GDP Annual Growth Rate (%) 0.30 1.1 0.7 1.5 1.8
Unemployment Rate (%) 32.10 33 32.5 32.7 32.3
Inflation Rate (%) 2.80 4.5 3.5 3.7 4.3
Inflation Rate MoM (%) -0.10 0.4 0.2 0.6 0.4
Interest Rate (%) 7.75 7.75 7.5 7.25 7
Balance of Trade (ZAR Million) 12838.10 18000 12000 19000 11000
Current Account (ZAR Million) -64646.00 -160000 -70000 -185000 -18000
Business Confidence (points) 45.00 40 43 38 36
Manufacturing PMI (points) 52.60 50.8 49.5 51 51.6
Consumer Confidence (points) -5.00 -6 -8 -10 -7
Retail Sales MoM (%) -0.80 1.2 0.8 1 -1.5
Current Account to GDP (% of GDP) -1.60 -2.8
Government Debt to GDP (% of GDP) 72.20 73.9
Government Budget (% of GDP) -4.90 -4.9

GDP Actual Q4/24 Q1/25 Q2/25 Q3/25
GDP Growth Rate (%) 0.40 1 0.6 0.4 0.9
GDP Annual Growth Rate (%) 0.30 1.1 0.7 1.5 1.8
GDP Constant Prices (ZAR Million) 4653982.00 4686316 4663685 4723792 4737754
Gross National Product (ZAR Million) 4727053.00 4694760 4681931 4797959 4812140
Gross Fixed Capital Formation (ZAR Million) 654787.00 682335 668421 664609 666573
GDP from Services (ZAR Million) 1132270.00 1128834 1125100 1149254 1152651
GDP from Manufacturing (ZAR Million) 523370.00 530814 521061 531221 532791
GDP from Mining (ZAR Million) 201480.00 208887 204550 204502 205107
GDP from Public Administration (ZAR Million) 372958.00 375408 373661 378552 379671
GDP from Transport (ZAR Million) 380838.00 395587 392214 386551 387693
GDP from Utilities (ZAR Million) 100954.00 99406 98599 102468 102771
GDP from Construction (ZAR Million) 103164.00 107099 103413 104711 105021
GDP from Agriculture (ZAR Million) 123793.00 112604 127297 125650 126021
GDP (USD Billion) 377.78 382
GDP per Capita (USD) 6006.45 6073
GDP per Capita PPP (USD) 14284.34 14441
Full Year GDP Growth (%) 0.60 1.1

Labour Actual Q4/24 Q1/25 Q2/25 Q3/25
Unemployment Rate (%) 32.10 33 32.5 32.7 32.3
Employed Persons 16946.00 17000 17200 17400 17350
Unemployed Persons (Thousand ) 8011.00 8050 8250 8400 8200
Youth Unemployment Rate (%) 60.20 61 60.7 60.7
Population (Million) 62.20 63
Minimum Wages (ZAR/Hour) 27.58 27.58

Prices Actual Q4/24 Q1/25 Q2/25 Q3/25
Inflation Rate (%) 2.80 4.5 3.5 3.7 4.3
Inflation Rate MoM (%) -0.10 0.4 0.2 0.6 0.4
Consumer Price Index CPI (points) 116.00 118 119 120 121
Core Inflation Rate (%) 3.90 4.3 3.7 3.8 3.9
Core Consumer Prices (points) 113.50 114 116 117 118
Producer Prices (points) 101.20 103 105 105 104
Producer Prices Change (%) 1.00 3 3.2 2.7 2.3
Export Prices (points) 185.50 195 210 185 192
Import Prices (points) 168.10 180 175 182 185
Food Inflation (%) 3.60 4.7 3.9 4.3 4.2
Producer Price Inflation MoM (%) -0.30 0.7 0.5 0.5
Core Inflation Rate MoM (%) 0.20 0.2 0.4 0.4
CPI Transportation (points) 113.70 114 114 115 116
CPI Housing Utilities (points) 114.60 115 115 115 120

Money Actual Q4/24 Q1/25 Q2/25 Q3/25
Interest Rate (%) 7.75 7.75 7.5 7.25 7
Interbank Rate (%) 7.88 7.88 7.63 7.38 7.13
Money Supply M2 (ZAR Million) 4391966.00 4450000 4480000 4450000 4410000
Money Supply M3 (ZAR Million) 5368531.00 5400000 5500000 5600000 5550000
Foreign Exchange Reserves (USD Million) 63028.00 64000 62800 62500
Loans to Private Sector (ZAR Million) 4828204.00 4686720 4745342 4812308 4915112
Deposit Interest Rate (%) 8.26 8.01 7.76 7.51 7.26
Lending Rate (%) 11.50 11.25 11 10.75 10.5

Trade Actual Q4/24 Q1/25 Q2/25 Q3/25
Balance of Trade (ZAR Million) 12838.10 18000 12000 19000 11000
Current Account (ZAR Million) -64646.00 -160000 -70000 -185000 -18000
Exports (ZAR Million) 170749.50 170000 168000 173000 168000
Imports (ZAR Million) 157911.00 152000 156000 154000 157000
Tourist Arrivals 859361.00 1100000 995000 995000
Terms of Trade (points) 110.30 108 120 102 104
Current Account to GDP (% of GDP) -1.60 -2.8

Business Actual Q4/24 Q1/25 Q2/25 Q3/25
Business Confidence (points) 45.00 40 43 38 36
Manufacturing PMI (points) 52.60 50.8 49.5 51 51.6
Industrial Production Mom (%) 0.00 0.9 -1.3 2 -3.3
Industrial Production (%) -0.80 2 4.7 2.7 2.2
Bankruptcies (Companies) 117.00 140 136 129 132
Car Registrations (Units) 34228.00 28000 27500 28000 29300
Total Vehicle Sales (Units) 47940.00 41200 44000 42100 45000
Leading Economic Index (%) -0.70 1.3 0.5 0.5
Coincident Index (points) 110.20 112 114 112 110
Electricity Production (Gigawatt-hour) 19879.00 18800 17500 17500
Mining Production (%) 4.70 0.9 1.3 1.3
Composite PMI (points) 50.60 51 49.7 49.7
Gold Production (%) -3.70 1.7 2 2

Consumer Actual Q4/24 Q1/25 Q2/25 Q3/25
Consumer Confidence (points) -5.00 -6 -8 -10 -7
Retail Sales MoM (%) -0.80 1.2 0.8 1 -1.5
Retail Sales YoY (%) 0.90 2.4 1.8 2 1.7
Consumer Spending (ZAR Million) 3133096.00 3131008 3110885 3180092 3189492
Disposable Personal Income (ZAR Million) 4681981.00 4634026 4639063 4752211 4766257
Private Sector Credit (%) 4.63 3.8 4.4 5 4.9
Bank Lending Rate (%) 11.25 11.25 11 10.75 10.5
Gasoline Prices (USD/Liter) 1.19 1.2 1.22 1.24 1.25

Housing Actual Q4/24 Q1/25 Q2/25 Q3/25
Building Permits (ZAR Thousand) 9414088.00 10100000 10100000
Housing Index (points) 113.80 118 121 125 135

Government Actual Q4/24 Q1/25 Q2/25 Q3/25
Government Debt to GDP (% of GDP) 72.20 73.9
Government Budget (% of GDP) -4.90 -4.9