StatsSA reaches tipping point over budget freeze. Here’s how this could impact investment into the country
In just 2015 alone StatsSA had R160 million stripped from its budget and a freeze on all posts was imposed by government. Both have remained in place since then. By early 2020, the situation has reached crisis point. David Everatt, the Chairperson of the South African Statistics Council says lack of funding results in inaccurate data from Stats SA which could lead the country driving investors and business away.
Manufacturing and construction industries have been the main sectors to shed most jobs. This has been reported in the third quarter employment numbers released by Statistics SA. These results show a decrease of 16 thousand jobs in formal non-agricultural sector the quarter ended in September. Joining CNBC Africa to unpack the employment survey for the third quarter is Matlapane Masupye, Director Employment Statistics at StatsSA.
In September, South Africa entered a technical recession after the country's GDP decreased by 0.7% in Q2.
JOHANNESBURG (Reuters) - South Africa’s unemployment rate rose to 27.2 percent of the labour force in the second quarter from 26.7 percent in the first quarter, the statistics office said on Tuesday. In...
Gross domestic product rose 0.7 percent on an unadjusted year-on-year basis in the third quarter.
September’s number translated into an average inflation of 6% during 2016 Q3 – lower than the 6.2% recently forecast by the SARB.
S.A's economy is on the verge of a second consecutive quarter of contraction after shrinking 1.2 percent in the first quarter.