South Africa’s private sector maintained its growth trajectory in October, bolstered by a decline in business costs and selling prices, according to a purchasing managers’ index (PMI) survey released yesterday.
The S&P Global South Africa PMI fell to 50.6 in October 2024, down from a 13-month high of 51.0 in September, indicating continued, but marginally slower private sector growth, the S&P website showed.
The continued private sector expansion was also reflected by the release on Monday of Standard Bank’s PMI, which had stayed above the 50.0 mark, signalling expansion, due to factors including eased load-shedding, interest rate cuts, and stronger performance of the rand, although there remain economic challenges, said TreasuryONE Currency Strategist Andrew Cilliers in a note.
The S&P Global South Africa PMI showed business activity and new orders…