Eastern Cape Province holds its investment conference today, 12 February. The purpose of the conference is to provide a mobilising platform to raise levels of confidence and enthusiasm for investment in the province, reinvigoration of the economy and employment creation. The conference will allow key players in the national investment processes to popularise their proposals in the province. It will also assist in setting out in more detail the nature of the outcomes of the President’s National Investment Conference.
In response to its mandate and in the context of national and provincial priorities, ECSECC has largely worked in the areas of: research and information; strategic advisory, planning and strategy development; stakeholder engagement and participation; and service delivery support. We believe the mandate of ECSECC remains relevant and that the entity provides value to its stakeholders and thus the citizens of the province.
Economic review of the Eastern Cape - GDP(2019Q2)
KEY FINDINGS FOR THE SECOND QUARTER 2019 • The IMF projected the global economy to grow at 3.2% in 2019 and 3.5% in 2020, both projections 0.1 percentage point below April’s projections. • The South African economy is projected to grow by 0.7% in 2019 and 1.1% in 2020. • SA GDP increased by 3.1% in the second quarter of 2019. • The largest positive contributors to growth in GDP in the second quarter were mining, finance, trade and general government services. • EC GDP increased by 2.2% in the second quarter with mining, electricity and trade being the largest contributors to GDP growth.
Economic review of the Eastern Cape - GDP (2019Q1)
Key Findings: • National real GDP declined by 3.2% in the first quarter of 2019. All nine provinces experienced negative growth rates ranging from 2.4% in the EC to 5.2% in the NW. • The four largest negative contributors to growth in GDP in the first quarter were the manufacturing, mining, trade, and catering and accommodation industries. • EC real GDP declined by 2.4% in the first quarter with finance, personal services and general government services industries being the only positive contributors to GDP. • The IMF projected global economy to grow by 3.5% in 2019 and 3.6% in 2020, respectively 0.2 and 0.1 of a percentage point below last October’s projections. • The South African economy is projected to grow by 1.4% in 2019 and 1.7% in 2020.
Eastern Cape Labour Market Overview 2019Q1
The Eastern Cape Quarterly Overview of the Labour Market is a statistical release compiled by the Eastern Cape Socio Economic Consultative Council (ECSECC). The aim of the publication is to analyse the latest developments in the Eastern Cape labour market. The analysis is extended to include employment and unemployment dynamics for the two metropolitan cities in the province. The data used in the report is drawn from Statistics South Africa’s Quarterly Labour Force Survey (QLFS). This issue covers the first quarter of 2019 (2019Q1).