Chart window
Constant 2015 prices, real terms
Actual Forecast
II
INDUSTRY INSIGHT
Construction & economic intelligence
Update: July 2026
Source: Industry Insight (base data: StatsSA P0441, SARB QB)
Macro Economic Forecast

Macro Economic & Construction Forecast

South Africa's real GDP, expenditure, investment and construction outlook. This demo shows 2022–2024 actuals; the full version adds history from 1995 and Industry Insight's base-case forecast to 2028.

At a glance

Key indicators — 2024 actuals

Headline figures for 2024, with year-on-year or point change against 2023. Forecast-year figures are available in the full version.
Summary table

Key indicators by year

Real (constant 2015 price) values with year-on-year % change, or percentage-point change where noted. Forecast years are shaded.
Section A

Growth & expenditure

Real GDP and its main expenditure components.
Section B

Investment & construction

Gross fixed capital formation by asset type, and construction's contribution to the economy.
Section C

Prices, rates & global outlook

Inflation, interest rates, the currency, oil and the global growth backdrop.
Section D

2028 scenario comparison

Downside and upside sensitivities around Industry Insight's base-case forecast for 2028 — available in the full version.
Downside scenario Base forecast (Industry Insight) Upside scenario
Indicator (2028)DownsideBase forecastUpside
Real GDP Growth🔒 Full version🔒 Full version🔒 Full version
Household Consumption🔒 Full version🔒 Full version🔒 Full version
Government Consumption🔒 Full version🔒 Full version🔒 Full version
Gross Fixed Capital Formation🔒 Full version🔒 Full version🔒 Full version
Residential Buildings🔒 Full version🔒 Full version🔒 Full version
Non-residential Buildings🔒 Full version🔒 Full version🔒 Full version
Construction Works (Civil Engineering)🔒 Full version🔒 Full version🔒 Full version
Machinery & Equipment🔒 Full version🔒 Full version🔒 Full version
Exports🔒 Full version🔒 Full version🔒 Full version
Imports🔒 Full version🔒 Full version🔒 Full version
Consumer Inflation (CPI)🔒 Full version🔒 Full version🔒 Full version
Prime Lending Rate🔒 Full version🔒 Full version🔒 Full version
Brent Crude Oil🔒 Full version🔒 Full version🔒 Full version
Average Rand / US$🔒 Full version🔒 Full version🔒 Full version
Construction Outlook🔒 Full version🔒 Full version🔒 Full version
Ranges reflect qualitative sensitivity around Industry Insight's base forecast, not statistical confidence intervals. Base case as published in the July 2026 update.