South Africa SARB Quarterly Bulletin
War in the Middle East has significantly impacted global and domestic financial markets as well as energy prices, it did not materially affect domestic real economic activity in the first quarter of 2026.
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War in the Middle East has significantly impacted global and domestic financial markets as well as energy prices, it did not materially affect domestic real economic activity in the first quarter of 2026. - - Real GDP rose 0.5% in Q1 2026 supported by tertiary and primary sectors while secondary contracted. - - Excluding agriculture growth held at 0.4%.
Primary rebounded on higher field crops horticulture PGMs and gold. - - Secondary fell for third quarter on weak manufacturing.
Tertiary expanded broadly. - - Real GDE dropped 0.3%.
Net exports added 0.9 percentage points to GDP. - - Unemployment rate rose to 32.7% with 345000 job losses. - - Household debt to disposable income climbed to 62.2%. - - Current account surplus widened to 2.4% of GDP.
External debt reached $200.3B.
National government debt at 78.5% of GDP. - - Link: