Food prices, electricity costs, municipal tariffs, medical aid fees – all are soaring as incomes fall, crushing South Africans’ personal finances, while load shedding adds to the pressure on businesses.
Building plans at current prices passed by larger municipalities, a key indicator for the construction sector that also sheds light on the state of household finances, fell by 16.3% in January-February 2023 compared with the same period last year. Rising interest rates against the backdrop of a.
South African manufacturing production slid by a much bigger than expected 5.2% in the year to February, data unveiled by Stats SA showed on Tuesday. This raises the odds that the economy has fallen into recession as the power crisis bites and comes against the looming possibility of Stage 10 l.
The BankservAfrica Economic Transactions Index fell 1.3% to 131 index points in February 2023, signalling the country’s deteriorating economic activity.