A survey on Wednesday showed that South Africa’s economic downturn extended into last month, though businesses still reeling from the impact of the COVID-19 pandemic reported slightly less steep in output and new orders.

The pace of job losses also slowed, but July still saw the third-fastest reduction in employment on record.

The IHS Markit Purchasing Managers’ Index (PMI) rose to 44.9 from 42.5 in June, its second increase in a row but still far below the 50 mark that separates expansion from contraction.

Africa’s most industrialised economy imposed a hard lockdown in late March to contain the spread of the coronavirus. It has gradually eased curbs on most economic activity since.

The July reading was the 15th in succession below 50, showing the downturn began well before the pandemic.

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