According to a survey released Wednesday, 05 July 2023, South Africa’s private sectors contracted for the fourth consecutive month in June as prices continue to climb up and affect business.
“Sharply rising output prices continue to harm client demand as businesses and households limit spending in the current high-inflation environment,” said David Owen, economist at S&P Global Market Intelligence.
Lower levels of power cuts by Eskom and the reduced shipping delays meant that the supply chains improved since pre-Covid.
“South Africa’s private sector saw some relief in June as the intensity of load shedding was much weaker than anticipated,” Owen said.
