September data points to an economy buckling under mounting pressure, as economic activity entered a fourth consecutive month of decline, says BankservAfrica.
The BankservAfrica Economic Transactions Index declined further in September 2022 as the local economy buckled under the pressure of severe load shedding and global headwinds.
Analysis by Eskom’s Research, Testing and Development department shows that besides 2021, more power cuts were experienced in September 2022 than in any other year since load shedding started in 2007. The S&P Global South Africa PMI, which reflects activity in the broader private sector, contracted for the first time since December 2021 falling to 49.2.
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