August 2020

17 August 2020 – The South African bulk sector’s roller coaster ride is unlikely to end anytime soon as the commodities yo-yo continues – with some on an upward trajectory and others on a steep downward spiral. Coal, most notably, has not been doing well in recent months – and while loadings have rebounded somewhat, […]

14 August 2020 – Key South African data released this week suggests a record economic contraction in the second quarter as the damage wrought by a nationwide lockdown to curb the spread of the coronavirus pandemic becomes clear. Manufacturing production, mining output and retail sales plunged in the three months through June as the country

13 August 2020 – The South African Chamber of Commerce and Industry (Sacci) business confidence index (BCI), which dropped to 70.1 in May, has since recovered to 81.4 in June and to 82.8 in July. However, the BCI for July was still 9.2 index points below the level in July 2019 of 92. The turnaround

12 August 2020 – The government has responded to the COVID-19 crisis, how IMF financing will help to stabilize the economy, and strategies for addressing debt and spurring growth. South Africa’s economic activity is projected to contract by 7.2 percent in 2020, according to the International Monetary Fund (IMF’s) staff report that accompanied the government’s Rapid Financing

6 August 2020 – COVID-19’s arrival in Africa has exacerbated pre-existing major challenges to the continent’s food production and nutrition security. These include droughts, floods, extreme temperatures, outbreaks of crop and livestock pests and diseases, and generally low economic growth. This was according to the Minister of Agriculture, Land Reform and Rural Development, Thoko Didiza,

7 August 2020 – As the world grapples to contain the novel coronavirus, another crisis of widespread hunger is looming in many developing countries, particularly the least developed countries (LDCs). Although there are currently no signs of a COVID-19-induced global food crisis, the World Food Programme (WFP) has warned of potential widespread hunger that could

6 August 2020 – Manufacturing output levels are stabilising, but employment prospects are still worrying, the Absa Purchasing Manager’s Index for July revealed. The data released on Monday shows the PMI for July was slightly lower at 51.2 index points than the month of June which recoded 53.9 index points. The index however is still

5 August 2020 – South Africa’s trade surplus swelled to a record after eased lockdown restrictions allowed more exports, while demand for imports weakened. The positive trade balance widened to R46.6-billion last month from a revised R19.7-billion in May, the South African Revenue Services said Friday in a statement on its website. That’s the biggest surplus since at

4 August 2020 – The Absa Purchasing Managers’ Index (PMI) for July declined to 51.2 index points, from 53.9 in June, but stayed above the neutral 50-point mark for a third consecutive month. Absa and the Bureau for Economic Research (BER), which compiles the PMI on behalf of Absa, say this suggests that official manufacturing output should

3 August 2020 – The Ctrack Transport & Freight Index for June shows that South Africa’s transport and freight volumes increased 20.6% compared to May across all sectors. The fleet tracking company’s headline change however declined, with 23.2% for the rolling three-month average to June compared to June 2019. Total freight volumes in June also