20°C / 22°C
  • Mon
  • 21°C
  • 9°C
  • Tue
  • 21°C
  • 10°C
  • Wed
  • 20°C
  • 10°C
  • Thu
  • 19°C
  • 8°C
  • Fri
  • 18°C
  • 6°C
  • Mon
  • 19°C
  • 14°C
  • Tue
  • 15°C
  • 10°C
  • Wed
  • 14°C
  • 9°C
  • Thu
  • 15°C
  • 11°C
  • Fri
  • 18°C
  • 9°C
  • Mon
  • 23°C
  • 10°C
  • Tue
  • 24°C
  • 11°C
  • Wed
  • 23°C
  • 10°C
  • Thu
  • 22°C
  • 8°C
  • Fri
  • 20°C
  • 8°C
  • Mon
  • 22°C
  • 7°C
  • Tue
  • 22°C
  • 6°C
  • Wed
  • 23°C
  • 7°C
  • Thu
  • 22°C
  • 5°C
  • Fri
  • 20°C
  • 3°C
  • Mon
  • 25°C
  • 16°C
  • Tue
  • 23°C
  • 16°C
  • Wed
  • 19°C
  • 15°C
  • Thu
  • 21°C
  • 13°C
  • Fri
  • 20°C
  • 12°C
  • Mon
  • 21°C
  • 14°C
  • Tue
  • 16°C
  • 9°C
  • Wed
  • 14°C
  • 8°C
  • Thu
  • 15°C
  • 10°C
  • Fri
  • 18°C
  • 10°C
  • Mon
  • 17°C
  • 10°C
  • Tue
  • 13°C
  • 5°C
  • Wed
  • 15°C
  • 4°C
  • Thu
  • 15°C
  • 5°C
  • Fri
  • 19°C
  • 6°C
  • Mon
  • 18°C
  • 12°C
  • Tue
  • 14°C
  • 8°C
  • Wed
  • 14°C
  • 6°C
  • Thu
  • 14°C
  • 8°C
  • Fri
  • 18°C
  • 7°C
  • Mon
  • 24°C
  • 9°C
  • Tue
  • 25°C
  • 9°C
  • Wed
  • 25°C
  • 9°C
  • Thu
  • 24°C
  • 7°C
  • Fri
  • 22°C
  • 6°C
  • Mon
  • 23°C
  • 3°C
  • Tue
  • 22°C
  • 5°C
  • Wed
  • 23°C
  • 4°C
  • Thu
  • 15°C
  • 1°C
  • Fri
  • 18°C
  • 0°C
  • Mon
  • 27°C
  • 8°C
  • Tue
  • 32°C
  • 8°C
  • Wed
  • 19°C
  • 9°C
  • Thu
  • 29°C
  • 8°C
  • Fri
  • 20°C
  • 7°C
  • Mon
  • 19°C
  • 13°C
  • Tue
  • 15°C
  • 7°C
  • Wed
  • 12°C
  • 6°C
  • Thu
  • 14°C
  • 9°C
  • Fri
  • 17°C
  • 8°C

Sarb's revised growth figure a surprise for some economists

Reserve Bank Governor Lesetja Kganyago announced on Thursday that growth had been revised downwards to 1.2% from 1.7%.

FILE: South African Reserve Bank Governor Lesetja Kganyago. Picture: GovermentZA

JOHANNESBURG - There has been surprise at the South African Reserve Bank (Sarb)'s revised growth figure for this year, following earlier predictions that the economy is set to continue its upward trajectory.

Reserve Bank Governor Lesetja Kganyago announced on Thursday that growth had been revised downwards to 1.2% from 1.7%.

He also announced that the repo rate would remain unchanged.

Nedbank economist Isaac Matshego says that he didn't expect the Reserve Bank to lower its growth prediction.

"The reduction was a bit of a surprise, so basically they're saying that the economy is going to remain flat."

He says this is concerning.

"Remember that in 2017, we had a growth rate of 1.3%, so with 1.2% that is slightly lower than last year."

Matshego also says that trade tensions between the US and China will hurt global growth.

However, he says that bar the auto industry, South Africa shouldn't be too affected.