The BER, a proud economic research institute of Stellenbosch University

SAVE THE DATE: BER CONFERENCE

The BER will host its annual conference in Sandton, Johannesburg on the 6th of May 2024. The details of this full day event will be shared with Clients and registered website users and on Social media soon. Notifications to register will be sent via the website alerts system to all users. Contact us for more information

WATCH: Seminar with the BoE and Rand Merchant Bank

MARKETS AND BANKING IN AN ERA OF GLOBAL UNCERTAINTY: The Bureau For Economic Research at Stellenbosch recently hosted a seminar on “Markets and banking in an era of global uncertainty” on February 28th, 2025 in Stellenbosch. The seminar is part of a series of events being hosted to mark the centenary of the Faculty of Economic and Management Sciences. Participants of the event were Sir David Ramsden, Deputy Governor of the Bank of England, former Chief Economist of the UK Treasury and Isaah Mhlanga, Chief Economist, Rand Merchant Bank. The event was facilitated By Dr Roy Havemann, Head of the Impumelelo Economic Growth Lab at the BER.

A fiscal anchor for South Africa

RESEARCH NOTE: The International Monetary Fund (IMF) has recommended that South Africa adopt fiscal rules, and the National Treasury has committed to a process of consultations on fiscal rules, and to release a discussion by the end of March 2025. This research note explores what fiscal rules are and whether they could improve South Africa’s fiscal sustainability and fiscal credibility. It highlights guiding principles and considerations for fiscal rule design and outlines a possible fiscal rule to initially stabilise debt followed by a debt reduction phase.


In line with global decisions, SARB keeps repo rate on hold

BER Weekly | 20 March

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The FNB/BER Consumer Confidence Index (CCI) plunged from -6 to -20 index points during the first quarter of 2025 as tax shock rocks consumer sentiment.

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Business Confidence Index
Consumer Confidence Index
Purchasing Managers' Index
Building Confidence Index
Civil Confidence Index

Retailer confidence declined marginally from 54% to 50% in the first quarter. This suggests a slowdown in positive momentum, but confidence still remains 10 percentage points (%pts) above the long-term average.

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Economic Forecast

Despite the absence of load-shedding through most of 2024, the economy is unlikely to have grown faster than 1% last year. The outlook for 2025 is more positive, with some cyclical support set to push real growth to about 2%. Still, we have made a slight downward revision to our growth forecast for 2025. While local growth dynamics are important, this is, to some extent, overshadowed by the uncertainty coming from the global political landscape.

Read our latest economic forecast.

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The release calendar will be updated each quarter. Please note that these dates may change.

Wednesday
5 March 2025

RMB/BER Business Confidence Index (BCI)

Monday
10 March 2025

FNB/BER Building Confidence Index

Tuesday
18 March 2025

Absa Manufacturing Survey

Tuesday
25 March 2025

FNB/BER Consumer Confidence Index (CCI)

Friday
14 March 2025

Other Services Survey

Monday
24 March 2025

Retail Survey

Thursday
27 March 2025

FNB/BER Civil Confidence Index

Monday
17 March 2025

Inflation Expectations Survey

Thursday
3 April 2025

Building Cost Report (BCIS)

The first working day of each month

Absa PMI

The first working day of each month

Update

The first week of each month

Trends

Every Friday

BER Weekly

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The BER Economist Internship Programme provides practical training to appropriately qualified previously disadvantaged individuals. The programme equips trainees to function as economists in the private and/or the public sector.

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