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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Prospects (executive summary), 2024Q3

Date Uploaded: July 17 2024 14:30


There have been some significant developments since our last forecast update. Politically, the peaceful local elections have resulted in a government of national unity (GNU). On the economic front, the potential positive effects of a sustained period of no load-shedding in Q2 have been offset by a much weaker-than-expected Q1 GDP outcome. Indeed, the downward surprise to Q1 GDP, especially the weakness in consumer spending and private investment, has contributed to a downward revision to our full-year GDP forecast for 2024. However, we have upwardly revised our forecast for 2025.