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We recently hosted a full-day conference on 6 May 2025 in Johannesburg, exploring the broad sweep of South Africa’s economic landscape. The discussions included an update on the domestic economic outlook, an analysis of political-economy risks related to the Government of National Unity (GNU), and an examination of the Trump administration’s intentions toward South Africa. The second half of the programme, featured a deep dive into phase two of Operation Vulindlela. We examined the progress being made with municipal and water reforms and showcased some of the latest research in this field. An exciting lineup of speakers listed below addressed various topical issues. BER Clients can download the presentations available.
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.
20.97/litre
20.18/litre
3.4% y-o-y
2.3%
0.6% y-o-y
10.50 %
2.3% y-o-y
0.3% y-o-y
The seasonally adjusted Absa Purchasing Managers’ Index (PMI) decreased by 1.6 points to 49.2 points in October 2025 from 50.8 in September.
The FNB/BER Civil Confidence Index gained two points to register a level of 43 in 2025Q3. The business mood improved despite a marked weakness in activity growth. However, this is likely due to base effects and actual spending on civil construction is unlikely to be as downbeat.
We have upwardly revised our 2025 real GDP growth forecast relative to our July update. Our view on the medium-term growth trajectory, however, remains largely unchanged. Economic Outlook describes the narrative driving our medium-term forecast, as well as the risks and sources of uncertainty, and includes the full set of forecast data.
Read our latest economic forecast.
The release calendar will be updated each quarter. Please note that these dates may change.
Wednesday
3 December 2025
RMB/BER Business Confidence Index (BCI)
Monday
8 December 2025
FNB/BER Building Confidence Index
Wednesday
10 December 2025
Absa Manufacturing Survey
Tuesday
9 December 2025
FNB/BER Consumer Confidence Index (CCI)
Monday
15 December 2025
Other Services Survey
Thursday
11 December 2025
Retail Survey
Tuesday
6 January 2026
FNB/BER Civil Confidence Index
Friday
12 December 2025
Inflation Expectations Survey
Monday
12 January 2026
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 (Enhanced and Free versions)
BER Weekly
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.
