Please select


For My Business

< R10m annual turnover

For My Business

> R10m annual turnover

Please select


For My Business

< R10m annual turnover

For My Business

> R10m annual turnover

Switch to FNB Business

Product shop Retrieve application

By Turnover

First Business Zero (R0 - R5 million p.a) Gold Business (R0 - R5 million p.a) Platinum Business (R5 million - R60 million p.a) Enterprise Business (R60 million - R150 million+ p.a)

Transact

Business Accounts Credit Cards Cash Solutions Merchant Services eWallet Pro Staffing Solutions ATM Solutions Ways to bank Fleet Services Guarantees

Savings and Investments

Save and Invest 3PIM (3rd Party Investment Manager)

Borrow

Overdraft Loans Debtor Finance Leveraged Finance Private Equity Vumela Securities Based Lending Selective Invoice Discounting Asset Based Finance Alternative Energy Solutions Commercial Property Finance Fleet Services

Insure

Insurance

For my employees

Staffing Solutions Employee benefits

Forex + Trade

Foreign Exchange International Trade Structured Trade + Commodity Finance Business Global Account (CFC account)

Value Adds + Rewards

Connect my business the dti initiatives Business Hub eBucks Rewards for Business DocTrail™ CIPC Instant Accounting Solutions Instant Payroll Instant Cashflow Instant Invoicing SLOW 24/7 Business Desk FNB Business Fundaba nav» Marketplace Prepaid products Accounting integrations

Industry Expertise

Philanthropy Chinese Business Islamic Banking Agriculture Public Sector Education Healthcare Franchise Motor Dealership Tourism

Going Global

Global Commercial Banking

Financial Planning

Overview

Bank Better

Demos KYC / FICA Debit order + recipient switching Electronic Alerts

Switch to FNB

Product Shop

Corporates + Public Sector

Corporate Public Sector

Switch to FNB

Product Shop

Private Banking

Private Banking



Economics
commentary

Reports on consumer and property economics


The FNB House Price Index growth moved sideways in February, averaging 3.8% y/y. Price growth appears to have stabilised in the last few months, likely due to the receding supply of properties on the market for sale. The on-going Russia-Ukraine conflict could pose downside risks to the domestic housing market. If sentiment is significantly dampened as a result, then our expectations of a continued recovery in affluent segments in 2022 may, likewise, be dampened.


 

Economics Weekly 24 June 2022


The latest consumer price inflation data for May 2022 revealed a faster pace of price acceleration than previously anticipated. Headline inflation posted 6.5% y/y, the highest in five years and firmly above the South African Reserve Bank's inflation target. This data showed a sharp uptick in food and fuel prices, which will rise further in the coming months. In preparation for the increasing winter costs, we discuss below the expected inflation in food and transport costs, along with some other essentials.


 

Economics Weekly 17 June 2022


In our previous reports, we have shown that living costs are on the rise, with inflation expected to breach the upper-level target(see our report here). Correspondingly, we have argued that the Reserve Bank is likely to increase interest rates at a faster pace relative to initial expectations. In our view, these compound the pre-existing pressures on the consumer. In this piece, we round up available high frequency data to assess the current state of the consumer.


 

Economics Weekly 10 June 2022


The current account, seasonally adjusted and annualised, recorded a surplus of R143 billion in 1Q22, widening from a surplus of R132 billion (revised up from R120 billion) in 4Q21. As a percentage of GDP, the current account was 2.2%, from 2.1% (revised up from 1.9%) previously.


 

Economics Weekly 03 June 2022


Next week, the economic focus will be on this year’s weak GDP growth prognosis when Stats SA releases 1Q22 GDP data. We expect GDP growth to have remained steady at around 1.1% q/q (seasonally adjusted but not annualised) compared to 1.2% q/q in 4Q21. Our below-consensus GDP growth forecast of 1.7% this year faces several headwinds, and we are more concerned about the growth outcome for the second quarter. Here we highlight how some, but not all, sectors contributed to our first-quarter growth estimate and briefly discuss conditions that underpin our 2022 growth prognosis.


 

Economic Update

Inflation


After troughing at 2.1% y/y in May 2020, due to a lockdown-driven fall in demand and statistical imputations, headline inflation accelerated to 5.2% y/y in May of 2021. CPI weights are typically updated at least every five years, in line with international standards. New weights will be introduced with the January 2022 data and the base year will change to December 2020.


 

Archive

Economic Update




 

Reports on consumer and property economics




 

You use the information contained on this page (the "Information") at your own risk. First National Bank, a division of FirstRand Bank Limited ("the Bank"), provides no warranties or guarantees, whether express, implied or otherwise, in respect of the Information, its accuracy and/or reliability. Without limitation, the Bank does not warrant that the Information will ensure your compliance with accounting, auditory, financial, legal, business and/or tax requirements or will improve your business' performance. The Information does not constitute advice and should not be used as a substitute for obtaining professional or other advice where necessary. Neither the Bank nor its holding company, subsidiaries or other group companies will be liable to you for any claims, demands, expenses, costs, losses or damages, of whatsoever nature, suffered or incurred by you in respect of your use of the Information.

The Bank is the owner of the copyright in all content on this page. You may not publish, modify or adapt this content in any medium or format without the prior written consent of the Bank.

2021 Economic updates


July

Economic updates

2021 Reports on consumer and property economics


October

Property Barometer

September

Property Barometer

Property update

July

Property Barometer

June

Property Barometer

May

Property Barometer

April

Property Barometer

February

Property Barometer

January

Property Barometer

2020 Reports on consumer and property economics


November

Property Barometer

September

Property Barometer

August

Property Barometer

July

Estate Agents Survey Property Barometer

May

Property Barometer

April

Property Barometer

February

Property Barometer

January

Property Barometer