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Economics
commentary

House price growth leveled out in 4Q23, signs of a faint recovery on the horizon


The FNB House Price Index growth averaged 0.8% y/y in December, marginally higher than the 0.7% in November (revised from 0.5%), and a low of 0.5% in October.

 

Economics Weekly 23 February 2024


The 2024 National Budget provides a delicate balancing act between swelling spending pressures and limited revenue sources. Persistent weak economic growth and a rising population has resulted in more people being left on the fringes of the economy, unable to contribute meaningfully to the tax base but instead depending on social welfare. Despite this, Treasury has once again presented a positive fiscal trajectory.


 

National Budget Review 2024


Unpack the 2024 National Budget Speech with our FNB Economics team.


 

Economics Weekly 16 February 2024


In our previous report, we outlined our expectations for the South African housing market in 2024. The basic tenet of our outlook is that the housing market cycle has likely bottomed, but that a discernible uptrend should commence in 2H24, once affordability improves. Here, we share some of the anecdotes behind this prediction and the associated risks.


 

House price growth moved sideways in January


The FNB House Price Index growth averaged 0.6% y/y in January, unchanged from December, which was revised from 0.8%. The sideways movement house price appreciation is consistent with our view that price growth bottomed in 4Q23, but that a discernible upward trend should commence in 2H24, once affordability improves.


 

Economics Weekly 9 February 2024


On 21 February 2024, Finance Minister Enoch Godongwana will deliver the 2024 National Budget, a pivotal moment shaping the country's fiscal trajectory. Notably, the 2024 Budget comes during a crucial election cycle—arguably the most significant since the inaugural democratic elections of 1994.


 

Economics Weekly 2 February 2024


The January 2024 World Economic Outlook by the International Monetary Fund (IMF) reflects a resilient global economic recovery despite the severe impact of the pandemic, geopolitical tensions, and cost-of-living pressures. The IMF expects global growth to remain at 3.1% this year, unchanged from the estimated growth for 2023, while a modest increase to 3.2% is expected in 2025.


 

Economic Update

MTBPS 2023 Review



 

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Reports on consumer and property economics




 

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