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SA suffers one of the world's worst downturns in Q2

The hard activity data from South Africa released this week confirm that the country suffered one of the largest falls in output in Q2 anywhere in the world, at around 22% q/q (63% q/q on an annualised basis). Even though activity has rebounded since April, output remains well below pre-virus levels and there are worrying signs that the recovery stalled in recent weeks.

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