There were encouraging rebounds in mining and manufacturing which expanded 11,8% and 8,1% respectively, but the impact of the prolonged drought remains evident, with agriculture contracting –0,8%, the sixth consecutive quarterly pullback, but the sector appears to be turning the corner.
The South African Revenue Service (SARS) today releases trade statistics for July 2016 recording a trade balance surplus of R5,22bn. The cumulative trade balance surplus (01 January to 31 July 2016) of R17,40bn is an improvement on the deficit for the comparable period in 2015 of R24,67bn. These statistics include trade data with Botswana, Lesotho, Namibia and Swaziland (BLNS).
Construction activity rebounded unexpectedly, boosting confidence during the quarter.
The FNB/BER Civil Confidence Index gained 13 points to register a level of 41 in 2Q2016. This returns the index to more or less the same level as registered in 4Q2015. Despite the higher confidence, the current level of the index indicates that close to 60% of respondents are dissatisfied with prevailing business conditions.
Statistics South Africa recently reported February 2015 key findings for the manufacturing industry in the country. The findings were based on production and sales.