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Beyond GDP: the case of real-time barometer of economic activity in South Africa

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  • Helanya Fourie
  • Johan Fourie

Abstract

This paper makes the case for measuring economic activity in real time in a middle-income setting using indicators alternative to the standard System of National Accounts measure of gross domestic product (GDP). GDP remains indispensable, yet its limits as a welfare proxy are amplified where informality is large and statistical capacity constrained. Using South Africa as a case study, we show how reliance on delayed and incomplete sources weakens the accuracy of official figures, motivating the use of complementary data streams.

Suggested Citation

  • Helanya Fourie & Johan Fourie, 2026. "Beyond GDP: the case of real-time barometer of economic activity in South Africa," WIDER Working Paper Series wp-2026-1, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:wp-2026-1
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    File URL: https://www.wider.unu.edu/sites/default/files/Publications/Working-paper/PDF/wp2026-1-beyond-GDP-South-Africa.pdf
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    References listed on IDEAS

    as
    1. Wu, Haoyu & Atamanov, Aziz & Bundervoet, Tom & Paci, Pierella, 2024. "Is economic growth less welfare enhancing in Africa? Evidence from the last forty years," World Development, Elsevier, vol. 184(C).
    2. Alina Stundziene & Vaida Pilinkiene & Jurgita Bruneckiene & Andrius Grybauskas & Mantas Lukauskas & Irena Pekarskiene, 2024. "Future directions in nowcasting economic activity: A systematic literature review," Journal of Economic Surveys, Wiley Blackwell, vol. 38(4), pages 1199-1233, September.
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