Publications
Partners
Johannesburg – Limpopo's economy is keeping up with rest of the country.
The July Sake24 Limpopo Barometer was 5.2% up on the previous year and climbed 5.5% over the previous three months.
The provincial barometer’s growth index was also 7.9% up year-on-year (y/y). Mining carries the heaviest weight – 27% – in the barometer.
Mike Schüssler from Economists.co.za, who compiles the barometer, said this sector recovered strongly in the quarter to end-July after the strikes during the first quarter.
The barometer’s mining index was 3.1% up in July and 6.9% over the quarter. But it was still 4.4% down y/y.
Schüssler said the Limpopo economy is inclined to do better when commodity prices are up. It is also the province where the widest range of commodities are mined – platinum, iron ore, coal, diamonds, copper, nickel and manganese.
The barometer’s July index for transport, storage and communications was 19% up on a year ago.
Schüssler said trucks transporting goods to the rest of Africa give Limpopo’s road freight an enormous boost and this sub-index was 16.1% up y/y in July.
Limpopo is probably the province whose economy is most closely connected to those of other African countries, as it shares borders with three other states.
In May this year 255 700 people crossed Limpopo’s borders, 53.4% more than in May last year.
The barometer’s July agricultural index was 7.1% up y/y. The economic stress index was unchanged for the month, but 2.6% up y/y.
Unemployment rose from 20.2% in June to 20.8% in July and inflation from 5.5% to 5.7%.
- Sake24
The July Sake24 Limpopo Barometer was 5.2% up on the previous year and climbed 5.5% over the previous three months.
The provincial barometer’s growth index was also 7.9% up year-on-year (y/y). Mining carries the heaviest weight – 27% – in the barometer.
Mike Schüssler from Economists.co.za, who compiles the barometer, said this sector recovered strongly in the quarter to end-July after the strikes during the first quarter.
The barometer’s mining index was 3.1% up in July and 6.9% over the quarter. But it was still 4.4% down y/y.
Schüssler said the Limpopo economy is inclined to do better when commodity prices are up. It is also the province where the widest range of commodities are mined – platinum, iron ore, coal, diamonds, copper, nickel and manganese.
The barometer’s July index for transport, storage and communications was 19% up on a year ago.
Schüssler said trucks transporting goods to the rest of Africa give Limpopo’s road freight an enormous boost and this sub-index was 16.1% up y/y in July.
Limpopo is probably the province whose economy is most closely connected to those of other African countries, as it shares borders with three other states.
In May this year 255 700 people crossed Limpopo’s borders, 53.4% more than in May last year.
The barometer’s July agricultural index was 7.1% up y/y. The economic stress index was unchanged for the month, but 2.6% up y/y.
Unemployment rose from 20.2% in June to 20.8% in July and inflation from 5.5% to 5.7%.
- Sake24
For more business news in Afrikaans, go to Sake24.com.
*Follow Fin24 on Twitter, Facebook and Google+.
