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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
South AfricaSouth Africa Building Permits YoY climbed to 16.9% in March 2026
FMPMonthlyReleased May 2026
South Africa Building Permits YoY climbed to 16.9% in March 2026, released May 2026, up 27.9% from February's -11.0% reading. The print exceeded the -8.0% consensus by 24.9%. The print is running well above the 12-month average of -3.1%. Building Permits YoY is now the highest in 16 months.
Latest Release
16.9
Actual
-8
Consensus
-11
Previous
Median Absolute Error
±9.81 percentage points
across last 12 releases
Last Call
May 2026
Predicted: -1.55
Actual: 16.9
Error: -18.45
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/ZAR | ▼ Inverse | −0.50 | FOREX | Bullish ZAR | → View |
| EUR/ZAR | ▼ Inverse | −0.40 | FOREX | Bullish ZAR | → View |
| XAU/USD | ▲ Direct | +0.40 | COMMODITIES | Watch | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Building Permits YoY (South Africa) was reported at 16.9% in May 2026. This beat the market consensus of -8% by 24.9%. The reading rose from the previous value of -11%. Trailing 12-month context per ETL data through May 2026.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 5.03%, down from the prior three at 13.17%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/ZAR (Bullish ZAR). A secondary relationship exists with XAU/USD, positively correlated (Watch). Over the last 12 releases, the Sigmacast model's median absolute error is 9.81%.
WHAT TO WATCH NEXT
The next release is scheduled for June 18, 2026. Same-country events in the next 14 days include Inflation Rate MoM (Jun 17) and Inflation Rate YoY (Jun 17).
Auto-generated from current model state · Refreshes on each release · Last update May 2026.
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Building Permits YoY - ZA
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About Building Permits YoY — South Africa
DEFINITION
Building Permits YoY is a financial indicator that measures the year-over-year change in the number of permits issued for new construction projects. This data provides insight into the health of the construction industry and can be used to forecast future economic activity. A higher number of building permits indicates a growing economy, while a decline may signal a slowdown. This indicator is closely monitored by investors, policymakers, and analysts as it can impact various sectors of the economy, such as real estate, manufacturing, and employment.
WHY THIS INDICATOR MATTERS
Housing data leads broader economic cycles by several months and is highly rate-sensitive, with knock-on effects to construction, materials, and consumer credit. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Mar 2026): actual 16.9 %, consensus -8 %. Prior reading (Feb 2026): -11 %. Before that (Jan 2026): 0.2 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/ZAR (Bullish ZAR, r=-0.50) — a useful reference for forex-focused traders.