Economic data reveals devastating effect of COVID-19 on SA economy

Hotel - Economic data reveals devastating effect of COVID-19 on SA economy

Economic data continues to tell the story of the devastating effects that COVID-19 and the lockdown have on the economy.

Stats SA’s tourist accommodation data shows that total income for the tourist accommodation industry decreased by 95.3% in June when compared to the same time last year.

There was a 92.3% decrease in the number of stay unit nights sold.

The main negative contributors to the year-on-year decrease in income came from hotels and other accommodation.

Land Transport Survey

Stats SA has also released the Land Transport Survey for June.  It shows the volume of goods transported decreased by 20% in June 2020 compared to the same time last year.

The corresponding income decreased by 16.8% over the same period. Income from freight transportation decreased in the second quarter, with the main negative contributors coming from a decrease in primary mining and quarrying products, basic metals products, and manufactured food, beverages, and tobacco products.

In terms of passenger transportation, the number of passenger journeys decreased by 63.1% in June compared to the same time last year.

The corresponding income decreased by 58.7% over the same period. Road passenger journeys decreased by 53.5% and rail passenger journeys decreased by 99.2%

Stats SA will this week release the statistics of civil cases for debt for June and building statistics of the private sector as reported by local government institutions.

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