SOUTH AFRICAN INDICATORS
ECS2603 EXAM PACK
JANUARY 1, 2017
CONTACT 0834259100/ WHATS APP 0609553145
BMSA
,Explain why indicators are monitored
❖ To expand business and explore new markets
❖ Asses general performance of the economy
❖ Effectiveness of economic policy
❖ Compare economic policies between countries.
❖ Make economic forecasts
❖ Speculators monitor to decide whether to buy or sell socks.
List and explain the goals of an economy/ List the five main criteria that are normally used to assess
macroeconomic performance.
• Economic Growth: How does one measure performance of the economy in relation to the
growth target
• Full Employment: How is the employment performance of the economy measured?
• Price Stability: Inflation how is it measured? What is an index, how are they calculated?
• Balance of Payments Stability: What is the BOP? What is the significance of the
subaccounts of the BOP?
• An Equitable Distribution of Income: How to assess the distribution of income and
techniques?
Discuss the main sources of economic data in South Africa/Name two most important
agencies which collect South African Economic data as well as data publication of each
❖ The main sources of the South African economic data and data required to make comparisons.
Two most important agencies which collect economic data in SA are Statistics South Africa (Stats
SA) and the South African Reserve Bank (SARB).
❖ Stats SA is the central government body in SA that is authorised in terms of the Statistics Act to
compile and publish national statistics.
❖ SARB Quarterly Bulletin: Best known and most frequently quoted data sources and contains
economic data only. It contains an extensive summary and interpretation of recent economic
developments, including short-term policy. Greater part consists of 150+ statistical tables
covering most aspects of SA economy.
❖ SARB Annual Report: This incorporates the Annual Economic Report which contains a review of
economic and financial conditions during the past 12 months. Data is presented as ratios in rate
of changes.
❖ Release of Selected Monthly Data: SARB updates monthly money and banking and other stats
by issuing a brief Release Selected Monthly Data
❖ South African Statistics: This is the most comprehensive collection of annual South African
data.
1|Page
, ❖ Bulletin of Statistics: Regular quarterly publication of Stats SA which can be used to update
South African Statistics.
❖ P Series or Statistical Releases: When data becomes available between the Bulletin of Statistics
and South African Statics, SARB publishes the P Series.
❖ Stats in Brief: Annual release pocket guide containing data on 18 different topics.
❖ Quarterly Labour Force Survey: Contains the results of rotating panels household survey
specifically designed to measure the dynamics of employment and unemployment in the country.
❖ Budget Review: Published by treasury to coincide with the Minister of Finance Budget speech.
❖ Secondary Data Sources: Data supplied by firms who specialise in providing economic data
and making them available to end users.
❖ International Economic Data: The IMF, World Bank and United Nations regularly collect and
publish data for all countries. Useful source is the International Financial Statistics from the IMF
contains data of all IMF countries on exchange rates, international liquidity, banking, trade and
prices and national accounting data.
List the tips that one needs to take into consideration about data
❖ The definitions the indicators should always be checked carefully
❖ Determine the period to which the data relates.
❖ Always make sure data is seasonally adjusted.
❖ Always check whether the variable is a stock or flow.
❖ Ascertain the geographic coverage of the data.
❖ Check if the data has been adjusted for inflation.
❖ Check who produced the data, government or private company.
❖ Many time data is not collected but arise as a by-product of some administrative process.
❖ Check whether the data will be revised or if still needs to be revised.
❖ For observations over time, it may be useful to plot the data on a graph.
❖ Ascertain the start and end points for calculating changes.
❖ A frequent mistake is to confuse levels with rates of change (or percentages).
❖ Determine what other yard sticks will aid interpretation.
❖ Bear in mind that correlation does not result in causation.
❖ Be cautious of international interpretations as definitions may differ between countries.
Explain the following terms
a) Volume, price and value.
b) Real and nominal values
c) Stocks and flows
d) Simple average or arithmetic mean
e) Weighted Averages
2|Page
ECS2603 EXAM PACK
JANUARY 1, 2017
CONTACT 0834259100/ WHATS APP 0609553145
BMSA
,Explain why indicators are monitored
❖ To expand business and explore new markets
❖ Asses general performance of the economy
❖ Effectiveness of economic policy
❖ Compare economic policies between countries.
❖ Make economic forecasts
❖ Speculators monitor to decide whether to buy or sell socks.
List and explain the goals of an economy/ List the five main criteria that are normally used to assess
macroeconomic performance.
• Economic Growth: How does one measure performance of the economy in relation to the
growth target
• Full Employment: How is the employment performance of the economy measured?
• Price Stability: Inflation how is it measured? What is an index, how are they calculated?
• Balance of Payments Stability: What is the BOP? What is the significance of the
subaccounts of the BOP?
• An Equitable Distribution of Income: How to assess the distribution of income and
techniques?
Discuss the main sources of economic data in South Africa/Name two most important
agencies which collect South African Economic data as well as data publication of each
❖ The main sources of the South African economic data and data required to make comparisons.
Two most important agencies which collect economic data in SA are Statistics South Africa (Stats
SA) and the South African Reserve Bank (SARB).
❖ Stats SA is the central government body in SA that is authorised in terms of the Statistics Act to
compile and publish national statistics.
❖ SARB Quarterly Bulletin: Best known and most frequently quoted data sources and contains
economic data only. It contains an extensive summary and interpretation of recent economic
developments, including short-term policy. Greater part consists of 150+ statistical tables
covering most aspects of SA economy.
❖ SARB Annual Report: This incorporates the Annual Economic Report which contains a review of
economic and financial conditions during the past 12 months. Data is presented as ratios in rate
of changes.
❖ Release of Selected Monthly Data: SARB updates monthly money and banking and other stats
by issuing a brief Release Selected Monthly Data
❖ South African Statistics: This is the most comprehensive collection of annual South African
data.
1|Page
, ❖ Bulletin of Statistics: Regular quarterly publication of Stats SA which can be used to update
South African Statistics.
❖ P Series or Statistical Releases: When data becomes available between the Bulletin of Statistics
and South African Statics, SARB publishes the P Series.
❖ Stats in Brief: Annual release pocket guide containing data on 18 different topics.
❖ Quarterly Labour Force Survey: Contains the results of rotating panels household survey
specifically designed to measure the dynamics of employment and unemployment in the country.
❖ Budget Review: Published by treasury to coincide with the Minister of Finance Budget speech.
❖ Secondary Data Sources: Data supplied by firms who specialise in providing economic data
and making them available to end users.
❖ International Economic Data: The IMF, World Bank and United Nations regularly collect and
publish data for all countries. Useful source is the International Financial Statistics from the IMF
contains data of all IMF countries on exchange rates, international liquidity, banking, trade and
prices and national accounting data.
List the tips that one needs to take into consideration about data
❖ The definitions the indicators should always be checked carefully
❖ Determine the period to which the data relates.
❖ Always make sure data is seasonally adjusted.
❖ Always check whether the variable is a stock or flow.
❖ Ascertain the geographic coverage of the data.
❖ Check if the data has been adjusted for inflation.
❖ Check who produced the data, government or private company.
❖ Many time data is not collected but arise as a by-product of some administrative process.
❖ Check whether the data will be revised or if still needs to be revised.
❖ For observations over time, it may be useful to plot the data on a graph.
❖ Ascertain the start and end points for calculating changes.
❖ A frequent mistake is to confuse levels with rates of change (or percentages).
❖ Determine what other yard sticks will aid interpretation.
❖ Bear in mind that correlation does not result in causation.
❖ Be cautious of international interpretations as definitions may differ between countries.
Explain the following terms
a) Volume, price and value.
b) Real and nominal values
c) Stocks and flows
d) Simple average or arithmetic mean
e) Weighted Averages
2|Page
