US labour market still strong and SA’s Q3 2023 GDP declines

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A broad range of US labour market data released last week was compellingly strong, with the unemployment rate moving down to 3.7%. However, those sectors that are more sensitive to interest rates, e.g. retail, manufacturing and technology, are adding fewer jobs, showing the economy is slowing. In SA, Q3 GDP declined by 0.2% and the same binding constraints (load shedding and logistics constraints) are likely to persist into Q4 and Q1 2024, pushing the economy into technical recession.

11 Dec 2023 English South Africa Investing · Business News

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