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PUBLISHER: Freight News (

The South African economy has entered an upswing, with many industries now experiencing a spike in activity above levels seen before the onset of the Covid-19 pandemic, according to the latest PwC economic outlook report.

However, the report – SA Economic Outlook ‘A Challenging Time for Consumers’- noted that the country was experiencing “jobless growth”.

It highlights a possible decline in the unemployment rate in 2022 from 31.4% to 31%, CPI of around 4.6%, and a rise in the SA Reserve Bank’s repo rate from 3.75% in 2021 to 4.75, with several rate hikes predicted for the year.

PwC anticipates that the rand/dollar exchange rate will average between R15.05 and R15.28 in 2022.

It also highlighted the impact of the loosening of Covid-19 lockdown restrictions on the economy.

“The fact that December closed, and January has continued, with no tightening of lockdown rules, suggests that South Africa has entered 2022 en route to a new post-lockdown era.

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