Business conditions take a hit in July after unrest
Private-sector performance was also knocked by the imposition of level 4 Covid-19 lockdown restrictions
Business conditions in the private sector soured dramatically during July, in the wake of tighter lockdown restrictions and civil unrest that tore through some of the country’s major economic hubs.
The economy wide IHS Markit purchasing managers’ index (PMI) fell into negative territory for the first time in 10 months during July, illustrating the extent of the disruption caused by a renewed level 4 lockdown and violence and looting that flared up in Gauteng and KwaZulu-Natal. ..