The Economics Minute

Get your economics news and commentary in audio small chunks

The Economics Minute is a real podcast.

You can listen via Anchor, or search for Die Ekonomie Minuut on Spotify, or Pocket casts, or Public Radio, or Breaker, or Overcast, or Google, or Apple’s podcast app.

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Last week’s data (5/6)


WHERE economic activity happens also matters (2/6)


What SA’s 1980s debt crisis tells us about today’s issues (1/6)


Warning lights flashing in the FSR (31/5)


The buck stops here (30/5)


What happened to the rand last week? (29/5)


What the MPC says (26/5)


I hope I am wrong about today’s repo rate decision (25/5)


Inflation should be lower already (24/5)


What the US debt stand-off means for us (23/5)


Why this week’s repo rate decision matters (22/5)


By the numbers (19/5)


Are municipalities too big to fail? (18/5)


Q1 unemployment (17/5)


What the three gaps tell us (16/5)


What is worse than loadshedding? (15/5)


The rand stumbles (12/5)


The fiscal stance is under pressure too (11/5)


Food security, subsistence farming and grants (10/5)


Policy is made under constraints (9/5)


Are we at the end of the interest rate hiking cycle? (8/5)


Do you think loadshedding will end this year? (5/5)


Car sales tell us a lot about how the economy is doing (4/5)


Indicator: PMI (3/5)


Indicator: Credit extension (2/5)


The future of work, on Workers Day (1/5)



Indicator: March PPI (28/4)


On Freedom Day (27/4)


Productivity matters (26/4)


Just slow growth, or a technical recession? (25/4)


The condition our condition is in (electricity edition) (24/4)


Are you selling the country short (21/4)


Higher inflation, brought to you by loadshedding (20/4)


The dangers of a low-growth trap (19/4)


Inflation in March (18/4)


All the news that matters (17/4)

e-toll 2023 (14/4)


Indicators: Slower growth ahead (13/4)


Investment conferences and policy uncertainty (12/4)


Not a failed state, but are we back in 1991? (11/4)


South Africa is not a failed state (6/4)


Indicators: PMI and vehicle sales (5/4)


Government finances are looking OK (4/4)


Food security and hunger (3/4)


The 50bps increase in the repo rate surprised everyone (31/3)


Prices of basic foodstuffs and the Competition Commission (30/3)


Policy uncertainty is way up (29/3)


Everything points to a 25bps repo rate increase (28/3)


The wage ceiling vs the salary increases (27/3)


The hits just keep on coming (24/3)


CPI inflation is up again (23/3)


Reconsidering growth after human rights day (22/3)


Waiting for the base effect (21/3)


Price stability or financial stability? (20/3)


Indicators: Retail sales and agribusiness confidence (17/3)


And what about the inflation rate? (16/3)


Indicators: Manufacturing and mining contracted in January (15/3)


The start of a banking crisis, or the slow deflation of the second tech bubble? (14/3)


The US labour market remains tight (13/3)


The weaker rand is not only about loadshedding (10/3)


Business confidence takes a loadshedding hit (9/3)


It is official, loadshedding kills economic growth (8/3)


There are two reasons to keep an eye on today’s Q4 GDP numbers (7/3)


Cabinet reshuffle and the principle-agent problem (6/3)


The energy transition is coming, whether it is just or not (3/3)


Indicators show loadshedding is starting to hurt (2/3)


Making sense of the unemployment numbers (1/3)


Greylisting crisis, or is it priced in already? (28/2)


Factors that cause the rand to weaken (27/2)


What the new minimum wage means for workers and employers (24/2)


Budget 2023 (23/2)


The Budget and Eskom’s debt – today sees the mother of all bailouts (22/2)


How to listen to the budget speech like an economist (21/2)


What the Budget can and cannot do (20/2)


The importance of getting the basics right (17/2)


Inflation is down but not out (16/2)


The economics of Valentine’s day (15/2)


Why is the rand weaker now? (14/2)


What do the indicators show? (13/2)


If you missed the SONA (10/2)


Is there an investment strike? (9/2)


The President’s to-do list and Thursday’s SONA (8/2)


Under how much pressure are consumers? (7/2)


What happens in the U.S. does not stay there (6/2)


All the indicators that matter (3/2)


Loadshedding and economic growth prospects (2/2)


Global growth prospects are like a (small) wave, but SA runs the risk of missing it (1/2)


Indicators to keep an eye on this week (31/1)


For which drivers of economic growth should you keep your fingers crossed? (30/1)


If you don’t like the repo rate increase, what is the alternative? (27/1)

The 25 or 50 repo rate decision (26/1)


Loadshedding – should diesel be subsidised for SMEs? (25/1)

The impact of loadshedding on agriculture (24/1)


Two more years of loadshedding (you should get the solar panels) (23/1)


This week’s indicators show how tough things are becoming (20/1)


Inflation is down a bit, but will it convince the MPC? (19/1)


Changing the SARB’s mandate is a bad idea (18/1)


Inflation expectations and the next repo decision (17/1)


Economic growth prospects 2023 (16/1)



Inflation, shrinkflation and basis effects (15/12)


The fundamental drivers of growth (14/12)


The drivers of economic growth (13/12)


The economy (and the indicators that I talk about) affects us all (12/12)


Confidence indices pointing in all directions (9/12)


Thank the farmers, agriculture made the difference (8/12)


The economy grew in the third quarter! (7/12)


Growth and growth prospects (6/12)


This week’s indicators (5/12)


The gross domestic politics (2/12)


How import tariffs increase the prices you and I pay (1/12)



The unemployment rate was lower in Q3 (30/11)


International indicators (29/11)


The indicators at the end of November (28/11)


Are we close to a peak repo rate? (25/11)

50, 75 or 100 basis points? (24/11)


Why is the sovereign yield curve so steep? (23/11)


This week’s indicators are about inflation and the repo rate (22/11)


Why SA’s credit rating matters (21/11)


High-frequency cargo movement data shows the global economy slowing (18/11)


Policy uncertainty causes load-shedding (17/11)


Retail sales data, consumers under pressure and Black Friday (16/11)


Grain farmers are facing a cost squeeze (15/11)


When will the interest rate increases end? (14/11)


Indicators pointing in all directions (11/11)


Agriculture indicators to be positive about (10/11)


What the COP27 summit means for your household and business (9/11)


COP27 and how economists think about climate change (8/11)


What US non-farm payroll data tells us about the repo rate (7/11)


Spending credibility matters for the refinancing of public debt (4/11)


The Fed goes for another 75 bps increase (3/11)


It is difficult to say how the economy is doing (2/11)


The indicators to keep an eye on this week (1/11)


For whom the bell e-tolls (31/10)


The mini-budget and Eskom’s debt (28/10)


The mini-budget was a win for the Minister (27/10)


Our fiscal policy worries (26/10)


The mini-“feel good” budget (25/10)


What you need to know about this week’s mini-budget (24/10)


A last word on inflation (for now) (21/10)


Turns out there was a little bit of good news about inflation (20/10)


It is dangerous to listen to lots of podcasts about inflation (19/10)


I am sorry I don’t have better news about inflation (18/10)



The Transnet strike, inflation, uncertainty and trust (17/10)


If we could tie the hands of policymakers (14/10)


Maybe the economy did OK in August, but there are worries about September (13/10)


The IMF warns of recession and inflation (12/10)


And the 2022 Nobel prize goes to (11/10)


Why the US unemployment rate is our problem (10/10)

The importance of network infrastructure services (7/10)


It seems that the chances of a soft landing are now getting slim (6/10)


New car sales and the lower petrol price make for good news (5/10)


PMI and PUI data (4/10)


Eskom, air pollution and negative externalities (3/10)



August PPI data (30/9)


“Amorphous markets” vs Reaganomics (29/9)


What the QES employment numbers mean (28/9)


International inflation and recessions fears are causing havoc (27/9)


More repo rate thoughts and the mini-budget (26/9)


The repo rate increases again (23/9)


CPI inflation is down, but the repo rate is likely to go up again (22/9)


Inflation, the exchange rate and the repo (21/9)


Stage-6 is back (20/9)


Focus on inflation (SA) and interest rates (U.S.) this week (19/9)


What will happen to the Covid grant? (16/9)


Big ideas for the economic reform agenda (15/9)


SA mining production data and a side-note on US inflation (14/9)


What influences this month’s repo rate decision? (13/9)


When will prices start to decrease? (12/9)


Business and consumer confidence mixed bag (9/9)


What happened in agriculture in the second quarter (8/9)


But what do the growth prospects look like? (7/9)


How are the UK, EU and Chinese economies doing, and what does it mean for SA? (6/9)


US data and SA indicators (5/9)


Good news from August indicators (2/9)


Food and its environmental impact (1/9)


Everyone wants reforms, but what are we willing to give up to get them? (31/8)


This week’s indicators (30/8)


Jerome Powell spoke, and what it means for the repo rate (29/8)


July’s CPI and PPI inflation rates were high (26/8)


#NationalShutdown or whatever (25/8)


The unemployment rate decreased in Q2! (24/8)


This week’s indicators will look bad (23/8)


Inflation and wages (22/8)


Consumers under pressure (19/8)


A prediction market for everything (18/8)


What game theory can tell us about the response to foot and mouth disease (17/8)


Rand will definitely maybe strengthen (16/8)


Production indicators (15/8)


Women economists that you should follow (12/8)


The wins and woes of international trade (11/8)


U.S. jobs and inflation numbers matter for us all (10/8)


Economic growth in SA – the demand-side indicators (9/8)


Economic growth in SA – the supply-side indicators (8/8)


There has been an uptick in investment (5/8)


A wealth tax to fund a BIG? (4/8)


PMI and Naamsa numbers (3/8)


The ANC policy (uncertainty) conference (2/8)


What happens at the Fed… (1/8)


The PPI and the inflation outlook (29/7)


The IMF’s economic growth forecasts (28/7)


The leading indicator of the business cycle (27/7)


Inflation expectations are up, but not too far from the target band (26/7)


The Big Mac index shows that the rand is significantly undervalued (25/7)


The repo rate is increased by 75 basis points (22/7)


Inflation is up and today’s repo rate decision is crucial (21/7)


A new measure of how the economy is doing (20/7)


How are the upside inflation risks weighed? (19/7)


Inflation and a repo rate decision (18/7)


The economics of flight tickets to Cape Town (15/7)


This week’s data shows production and consumption slowing in May (14/7)


How to save some money (13/7)


Why is the rand depreciating? (12/7)


Eskom and the public debt (11/7)


Recession or soft landing? (8/7)


Meanwhile in Zimbabwe (7/7)


What policy trade-offs do you prefer? (6/7)


When economists make predictions (5/7)


The cost of stage-6 loadshedding (4/7)


A round-up of this week’s indicators (1/7)


Consumers under pressure (30/6)


QES employment numbers (and a focus on construction) (29/6)


How consumers are doing (28/6)


The week in (economics) data (27/6)


Are there other ways to reduce inflation? (24/6)


What the inflation rate means for July’s repo rate decision (23/6)


This is not investment advice (22/6)


Policies in China that will affect the SA economy (21/6)


Comparing the causes of inflation (20/6)


This week’s indicator: US interest rates (17/6)


Youth day 2022 (16/6)


Economic growth surprises (8/6)


This week’s indicators are about growth (7/6)


What an economic experiment says about working from home (6/6)


Round-up of the week’s indicators (3/6)


The trade-offs of fuel price relief (2/6)


Can a wage subsidy be part of the tools in the fight against unemployment? (1/6)


QLFS data and the unemployment rate (31/5)


Should you worry about food shortages? (30/5)


Cost-push inflation (27/5)


When the U.S. sneezes (26/5)


The economy is doing OK? (25/5)


The cost of loadshedding (24/5)


Resilient investment? Apparently. (23/5)


What the MPC decided, and why (20/5)


Inflation steady at 5.9% and the repo rate decision today (19/5


Fuel prices, household debt, no-name brands (18/5)


Should we not just let inflation go a bit? (17/5)


Inflation and interest rates (16/5)


This week’s indicators (13/5)


Chinese lockdowns have consequences across the world (12/5)


Managers matter (11/5)


Prospects for the agriculture sector (10/5)


Are wage expectations fueling inflation (yet)? (9/5)


What will happen the Rand next (6/5)


What can we do to prevent stagflation? (5/5)


How is the economy doing? (4/5)


Buy organic, save lives (3/5)


Pink tax on women? (2/5)


Carbon tax on your long weekend plans (29/4)


Is there really nothing to celebrate on Freedom Day? (28/4)


Radical policy talk for Freedom Day (27/4)


Indicators round-up (26/4)


What we lost in the flood (25/4)


Investing in collectables (22/4)


Prices are increasing, but are there second-round effects? (21/4)


From loadshedding to energy security? (20/4)


War = (economic) uncertainty (19/4)


Should we be worried about a recession in the US? (18/4)


Playing chicken with food prices (14/4)


The state of the roads and the economy (13/4)


Indicators round-up (12/4)


Food commodity prices are at an all-time high (11/4)


Progress towards development goals (8/4)


The robots are coming (7/4)


Policy uncertainty increased in Q1 (6/4)


Yield curve indicator (5/4)


Indicators good news to start the week (4/4)


Indicators: Private sector credit extension and more (1/4)


The Household Affordability Index puts the macro numbers into perspective (31/3)


So, employment and unemployment increased (how does that work?) (30/3)


Record unemployment (29/3)


Indicators round-up (28/3)


SA’s fourth investment conference (25/3)


The repo rate decision (24/3)


Inflation scenarios (23/3)


Pollution is a negative externality (22/3)


The economics of public holidays (21/3)


Consumer indicators (18/3)


Spectrum auctions (17/3)


Tapping the brakes just so (16/3)


This week’s indicators (15/3)


Inequality and the tax base (14/3)


U.S. inflation and interest rates (11/3)


When infrastructure matters (10/3)


Economic growth numbers (9/3)


GDP numbers and interest rate expectations (8/3)


Let’s reduce the domestic uncertainties (7/3)


Economic warfare (4/3)


Should we forget about economic recovery? (3/3)


Job reservation is bad economics (2/3)


How is the SA economy doing? (1/3)


What war in Ukraine means for the SA economy (28/2)


A few last thoughts on the Budget (25/2)


A good day for the Minister of Finance (24/2)


What Budget Speech history can teach us (23/2)


How to listen to the Budget Speech, like an economist (22/2)


What reforms do we need? (21/2)


I will catch up with uploading the episodes from the missed two weeks here.


This week’s indicators (4/2)


How do you spend a windfall? (3/2)


The CPI basket changes (2/2)


Fuel prices are rising again (1/2)


End of January, how is the economy doing? (31/1)


The week’s indicators (27/1)


Do it for policy credibility (26/1)


The case for a BIG (26/1)


Should we extend the SARB’s mandate? (25/1)


Will the World Bank loan help South Africa? (24/1)


Mining production and retail sales data (21/1)


Inflation increased (and the repo rate will probably increase as well) (20/1)


Only 33% of SMEs are confident that they are going to grow this year (19/1)


More indicators to keep an eye on this week (18/1)


Interest rates will have to increase (17/1)


Policy uncertainty decreased in Q4 (14/1)


Manufacturing production and vehicle sales data (13/1)


The fiscal story of the fire at Parliament (12/1)


Clues about how the economy is doing (11/1)


How the US job market affects the SA economy (10/1)


How predictions are made (7/1)


When economists study corruption (6/1)


Interesting predictions for 2022 (5/1)


Inflation and interest rates in 2022 (4/1)


The start of 2022 (3/1/2022)


The IMF warns that urgent reforms are needed (10/12)


So by how much did the economy shrink? (9/12)


Recession in the third quarter (8/12)


The impact on growth (7/12)


This week’s indicators will show how the economy is doing (6/12)


The week’s other economic indicators (3/12)


Are there any solutions to the unemployment problem? (2/12)


The unemployment rate is scary and likely to get worse (1/12)


Unemployment data today (30/11)


The Omnicron variant and the economy (29/11)


Carrots and sticks? Vooma vouchers and NSFAS 75% proposal (26/11)


Business confidence remains low (25/11)


Why the rand is under pressure (24/11)


Food price inflation (23/11)


The economic news we missed last week (22/11)


The repo rate increases (19/11)


Inflation holding steady (18/11)


The foreign factors influencing tomorrows repo rate decision (17/11)


The repo decision – the domestic considerations (16/11)


This week’s repo rate decision (15/11)


Does the mini-budget represent one side in a war of ideas within government? (12/11)


The Minister holds the line (11/11)


Mini-budget, talking the talk (10/11)


Growth prospects matter for the Budget (9/11)


What can we expect in Thursday’s MTBPS? (8/11)


The MTBPS and public debt (4/11)


The MTBPS and grants (3/11)