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Data from World Bank. Forecasts by Sigmanomics Forecast Engine.
South AfricaSouth Africa Government Expense (% of GDP) fell to 33.42 Percent in December 2022
World BankYearlyReleased December 2022
South Africa Government Expense (% of GDP) fell to 33.42 Percent in December 2022, down 1.18 Percent from November's 34.61 Percent reading.
Latest Release
33.424306
Actual
—
Consensus
34.605055
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
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 |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Watch | → View |
| USD/JPY | ▲ Direct | +0.30 | FOREX | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Government Expense (% of GDP) (South Africa) was reported at 33.42 Percent in December 2022. The reading fell from the previous value of 34.61 Percent. This is classified as a medium-impact indicator released on a yearly basis.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 35.29 Percent, up from the prior three at 33.97 Percent.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Balance of Trade (Jun 30).
Auto-generated from current model state · Refreshes on each release · Last update December 2022.
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Government Expense (% of GDP) - ZA
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About Government Expense (% of GDP) — South Africa
WHY THIS INDICATOR MATTERS
Aggregate growth figures anchor cyclical positioning across asset classes and inform fiscal and monetary policy debate. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released annually.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection.
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EXPECTED ZONE
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