October 2020

The CRA's Fast Stats provides data-driven insights into current political and economic trends.

Key takeaways

  • The RMB/BER Business Confidence Index for 3Q 2020 was up 19 index points in comparison to 2Q 2020.
  • The growth in money supply – the total value of money available in the economy – in August 2020 was 10.86%, compared to 7.41% in August 2019.
  • The official unemployment rate fell to 23.3% in 2Q 2020 – from 29% in 2Q 2019. Under the expanded definition, unemployment stood at 42% compared to 38.5% in 2Q 2019.
  • The average gold price per ounce for September 2020 was $1 923, compared to $1 511 in September 2019. The average platinum price per ounce was $906 compared to $942 for the same period.
  • The crude oil price (brent/barrel) in September 2020 was $41.02, compared to $62.78 in September 2019.
  • South Africa recorded a merchandise trade surplus of R134 billion for January-August 2020, compared to a deficit of R4.1 billion for January-August 2019.
  • Total vehicles sold were down 33.4% for January- September 2020, compared to January-September 2019. Vehicles exported were down 37.5% and tractors sold were up 0.1% for the same period.
  • The volume of manufacturing production for January-August 2020 was down 15.9%, compared to January-August 2019. The volume of mining production was down 14.9% for the same period.

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