Source: Agbiz e-newsletter/Nedlac, 27 August 2021, photo credit: WESTNIK
The economic recovery stuttered in July as additional obstacles – ranging from violence, looting and damage to property in Kwa-Zulu Natal and Gauteng to fallout from a “cyber-attack, security intrusion and sabotage” of the IT network of Transnet Port Terminals (TPT) came to the fore.
It is not yet clear what the impact of these developments will be on investment, employment and growth going forward and insurance payments and government support measures might make it harder to isolate and measure their respective impacts.
Nevertheless, some economic commentators have lowered forecasts of GDP growth and raised unemployment projections as a consequence. This is the findings of a report prepared in support of the Nedlac Social Partners’ Economic Recovery Action Plan.
The report provides a snapshot of key macro-economic and employment trends based on official statistics and other relevant sources of data.