HILARY JOFFE: Revised stats measuring methods reveal how economy is changing
29 August 2021 - 05:00
Every five years or so SA's official statistics agency conducts a highly technical exercise in which it shakes up the national accounts numbers that give us our GDP estimates and comes up with new and hopefully better estimates. Sometimes the exercise doesn't make much difference to the numbers. Other times it does - and this week's "Benchmarked and rebased estimates of GDP" report is one of those fun times for the stats nerds. On average, the size of the economy has in recent decades been almost 10% larger than we thought, with about R550bn added to SA's R5-trillion GDP in the latest year...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
There’s never been a more important time to support independent media.
From World War 1 to present-day cosmopolitan South Africa and beyond, the Sunday Times has been a pillar in covering the stories that matter to you.
For just R80 you can become a premium member (digital access) and support a publication that has played an important political and social role in South Africa for over a century of Sundays. You can cancel anytime.
Already subscribed? Sign in below.
Questions or problems? Email helpdesk@timeslive.co.za or call 0860 52 52 00.