Economy

Business closures herald a looming disaster

Company liquidations and employee retrenchments are a stark reminder of the extensive and continuing impact on economic activity of the Covid-19 pandemic and the resultant lockdown.

COVID-19 growth slump hits the economy in the second quarter

Latest GDP shocker the straw that will break the camel’s back?

Latest GDP figures have laid bare the grim reality of COVID-19’s economic effects, revealing an unprecedented 51% decline in economic activity in the second quarter of this year (quarter-on-quarter, seasonally adjusted and annualised).

Covid-19 lockdown results in largest GDP contraction on record

As expected, the 2Q20 gross domestic product (GDP) contracted by a record 51% on a quarter-on-quarter (q/q) seasonally adjusted and annualised rate (saar), extending SA’s technical recession to four consecutive quarters of negative economic growth. Overall, the deep contraction in output is mainly due to the strict lockdown regulations imposed in order to curb the spread of Covid-19.