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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.
21.79/litre
21.00/litre
3.0% y-o-y
0.1%
0.8% y-o-y
7.25 %
4.2% y-o-y
-6.3% y-o-y
The seasonally adjusted Absa Purchasing Managers’ Index (PMI) edged above the 50-point mark and recorded an expansion for the first time in nine months, increasing by 2.3 points to 50.8 in July 2025, driven by a relatively strong recovery in demand. The last time the headline PMI was in the above-50 expansionary territory was in October 2024 at 52.6 points.
The second quarter survey reflects a broad-based and significant decline in the inflation expectations of the survey respondents. Inflation expectations of all three social groups, (business people, trade union representatives and analysts) declined, with the downward adjustment extending across the forecast horizon. On average, the respondents expect that headline consumer inflation will be 3.9% during 2025, then rise gradually to 4.3% in 2026 and 4.5% in 2027.
We have revised our GDP growth forecast downward relative to our April projections, reflecting deepening global and local uncertainty as well as weaker-than-expected domestic data.
Read our latest economic forecast.
The release calendar will be updated each quarter. Please note that these dates may change.
Wednesday
3 September 2025
RMB/BER Business Confidence Index (BCI)
Tuesday
9 September 2025
FNB/BER Building Confidence Index
Tuesday
16 September 2025
Absa Manufacturing Survey
Thursday
25 September 2025
FNB/BER Consumer Confidence Index (CCI)
Tuesday
23 September 2025
Other Services Survey
Monday
22 September 2025
Retail Survey
Tuesday
30 September 2025
FNB/BER Civil Confidence Index
Monday
15 September 2025
Inflation Expectations Survey
Thursday
2 October 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 (Enhanced and Free versions)
BER Weekly
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