SA set to feel growth squeeze

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the preliminary assessment by government shows that the overall damage, together with the effects of the third wave and lockdown restrictions, could result in a 2% GDP contraction in the third quarter of this year Photo: Loanna Hoffmann/Gallo Images
the preliminary assessment by government shows that the overall damage, together with the effects of the third wave and lockdown restrictions, could result in a 2% GDP contraction in the third quarter of this year Photo: Loanna Hoffmann/Gallo Images

BUSINESS

The adverse effects of lockdown restrictions during the third Covid-19 wave, as well as the recent incidents of unrest and looting in KwaZulu-Natal and Gauteng, will weaken the momentum of third-quarter economic growth.

According to economic analysts, the riots dealt a blow to the economy through the direct losses experienced by businesses, damage to economic infrastructure, disruptions to supply chains, and weakened confidence among both investors and consumers.

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