Shock new figures lay bare SA’s plight
Reserve Bank indicator adds to gloom
Results of a business survey that have never been released before have underscored the hammering the economy has taken from the Covid-19 crisis — including those areas able to operate when SA’s lockdown restrictions were at their most severe.
The University of Stellenbosch Bureau for Economic Research’s "other services" survey, of sectors that account for about a fifth of the economy, showed confidence in the second quarter plunged to the lowest level in the survey’s 15-year history. It also showed an "unmatched drop-off in activity".