South Africa's economic downturn extended into last month, though businesses still reeling from the impact of the COVID-19 pandemic reported slightly less steep in output and new orders, a survey showed on Wednesday.
JOHANNESBURG - South Africa’s economic downturn extended into last month, though businesses still reeling from the impact of the COVID-19 pandemic reported slightly less steep in output and new orders, a survey showed on Wednesday.
The pace of job losses also slowed, but July still saw the third-fastest reduction in employment on record. Africa’s most industrialised economy imposed a hard lockdown in late March to contain the spread of the coronavirus. It has gradually eased curbs on most economic activity since.
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