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Business activity shrinks solidly in January - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Activity in private sector in January contracted at its fastest pace since the end of 2021 as new orders fell due to rolling power cuts and weak economic conditions, a survey showed on Friday.

People work at ''The Faktory", a fashion design and clothing manufacturing company in Johannesburg, South Africa.People work at ''The Faktory", a fashion design and clothing manufacturing company in Johannesburg, South Africa.

“The South African economy suffered a fresh downturn at the beginning of 2023, driven by a stronger decline in new business inflows that was the most marked in just over a year,” David Owen, economist at S&P Global Market Intelligence, said.

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