The BER, a proud economic research institute of Stellenbosch University

2026 Economist Internship Programme

APPLICATIONS OPEN Recruitment has opened for the 2026 Economist Internship Programme at the Bureau for Economic Research (BER)) at Stellenbosch University. The programme is in conjunction with the South African Reserve Bank.

RECENT EVENT 2025 May | Navigating Change: The GNU

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.

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.


SA GDP barely expands in Q1, while BCI and PMI suggest that Q2 remained weak

BER Weekly | 6 June

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The FNB/BER Building Confidence Index remained relatively stable in 2025Q1, gaining one point to record a level of 41. The results were mixed in terms of activity but, overall, reflected a sector which saw a slight worsening in current work. Near-term prospects for work, however, are encouraging from both contactors’ own expectation and also from the better activity reported by architects which reflects the building pipeline.

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

After gaining one point in 2025Q1, the FNB/BER Building Confidence Index shed five points to register a level of 36 in 2025Q2. Overall building activity was lower this quarter. However, this was disproportionately affected by much weaker residential building activity. While also lower, non-residential building activity remains somewhat more resilient.

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Economic Forecast

In this interim forecast update, we downwardly revised our GDP forecast.

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
4 June 2025

RMB/BER Business Confidence Index (BCI)

Monday
9 June 2025

FNB/BER Building Confidence Index

Tuesday
17 June 2025

Absa Manufacturing Survey

Thursday
26 June 2025

FNB/BER Consumer Confidence Index (CCI)

Monday
23 June 2025

Other Services Survey

Thursday
19 June 2025

Retail Survey

Monday
30 June 2025

FNB/BER Civil Confidence Index

Wednesday
2 July 2025

Inflation Expectations Survey

Thursday
3 July 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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