Economic Prospects

Economic Prospects
Economic Outlook
Most recent forecasts
BMR consensus

Economic Prospects

Detailed quarterly forecast report of the South African economy for the next two years. The focus is on current economic trends, both domestically and globally, as well as forecasts of the most important macroeconomic variables, including inflation, interest and exchange rates, GDP growth and household consumption.

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Economic Prospects, 2024Q2

Date Uploaded: May 06 2024 13:30


The SA economy managed to avoid a technical recession and registered a slight quarterly expansion in 2023Q4. For the full year, real GDP increased by 0.6% in 2023. This was in line with our expectations and a marked slowdown from the 1.9% recorded in 2022. While we still see growth accelerate in 2024 and 2025, we have downwardly revised our forecast. The lower real GDP outcome is largely a function of a more downbeat expectation for domestic demand.