FINANCES TAKE STRAIN

Real economic activity in SA contracted by 0.7% in the second quarter of the year after two successive quarters of expansion, according to the Reserve Bank’s latest Quarterly Bulletin. Households’ net wealth declined in the quarter, as total assets decreased while total liabilities increased.

In addition, strikes cost the economy 1.6 million working days in the first half, up from 45,000 last year. This number was driven by a prolonged wagerelated strike at Sibanye-Stillwater, where 31,000 workers at three gold mines were on strike for three months.