Data from Statistics South Africa shows that there has been very low growth of the capital stock and declining investment in the South African economy since 2010. There is a lot of heterogeneity across industries, with the capital stock growing rapidly in the electricity and water industry, but declining rapidly in business services. Capital expenditure has been declining in many industries, notably electricity and water and mining and quarrying and business services. It is worth pointing out that there are large differences between SARB and Statistics South Africa’s estimates of industry capital stock and investment. Read more in this earlier post.
