Economics
South Africa Extends Its Longest Slump Since 1945
- Household finances deteriorate on sharp drop in equity prices
- Wage growth slowed to lowest since 1970 due to recession
Residents queue to receive their South African Social Security Agency grant in Johannesburg.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
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The South African economy extended its longest downward cycle since 1945 as restrictions to curb the spread of the coronavirus weighed on output and are set to hurt household finances even more.