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Data reveal impact of Covid-19 on economy

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It’s hoped the loan will help create jobs in SA as the coronavirus pandemic has left many unemployed. Picture: Jacques Strander/Gallo Images
It’s hoped the loan will help create jobs in SA as the coronavirus pandemic has left many unemployed. Picture: Jacques Strander/Gallo Images

BUSINESS

The slew of economic data released this week reflects just how the Covid-19 pandemic has depressed economic activity in the country. On Thursday, Stats SA released data showing that mining output fell 9.1% in July, while manufacturing contracted by 10.6%.

The decline in mining production moderated to 9.1% year on year in July from a contraction of 27.2% in June (previously 28.2%) due to the scaling up of operations. However, this is still the fifth consecutive annual decline in mining production.

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