South Africa Fixed Capital Formation and Capital Stock (Quarterly Report) - October 2015

Given the persistence of balance of payments pressures, slowing domestic growth and an upward bias in interest rates, real capital formation growth will remain under pressure in 2015 and is forecast to grow by only 0.7% p.a. compared with 2014’s negative growth of -0.4%. 2016 may see growth of 1%, while a more meaningful acceleration in real GFCF growth is anticipated to resume only in 2017. Average GFCF growth of around 2.9% is expected during 2015-2020.

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