The outcome of the 2019 elections could determine South Africa’s long term economic prospects. Should the African National Congress (ANC) manage to increase or maintain its support base and continue with its current reforms, this could positively impact on sentiment.
Statistics South Africa (Stats SA) data shows 16 000 jobs were lost in the third quarter. The job losses were largely in the productive sectors of the economy namely, manufacturing, construction and mining.
South Africa’s manufacturing output rose more than expected in October to its highest level since June 2016, data showed on Tuesday, lifting the rand as the economy showed further signs of recovering from recession.