NEWS ANALYSIS: Burnt consumers unlikely to spend SA out of lockdown slump

SA’s economy is set to reopen further on June 1 as the country moves to a level 3 lockdown, but any hope that consumers will pick up spending where they left off before the coronavirus hit looks sorely misplaced.

The most recent results from an ongoing survey conducted during the Covid-19 lockdown has outlined the hit many households are taking to their incomes, with 60% of participants reporting a decline in earnings — a bad omen for the pace at which SA’s stricken economy will be able to recover.

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