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Out of recession

12 September 2017

South Africa exited a short-lived technical recession after posting positive growth in the second quarter. Gross domestic product (GDP), a broad measure of economic activity, rebounded by 2.5% in real terms in the second quarter, after declining in the two prior consecutive quarters. This was better than the market expected.

Missiles, hurricanes and other distracting headlines

05 September 2017

Hurricane Harvey slammed into Houston dumping an unimaginable amount of water on the Texan city. Apart from the unfolding human tragedy, the hurricane is expected to have a devastating impact on the region’s economy. The Houston metropolitan area is the fourth largest in the US, and its massive economy is even larger than South Africa’s. It is at the heart of the American oil and gas industry, and almost half the refining capacity in the US is located on the Gulf Coast. The city is also a key port for exports of other commodities, such as cotton and wheat.

Behind the tills

22 August 2017

Retail sales, a key indicator of the health of consumer spending, grew more than expected in the US and South Africa according to official data released last week. In both countries, consumption spending is the largest sector of the economy. However, the conditions in the retail sectors of these two economies are very different.