https://www.engineeringnews.co.za
Africa|Business|Environment|Freight|Logistics|Power|rail|Services|Transnet
Africa|Business|Environment|Freight|Logistics|Power|rail|Services|Transnet
africa|business|environment|freight|logistics|power|rail|services|transnet

Business activity picks up in February, PMI survey shows

5th March 2024

By: Reuters

  

Font size: - +

South African private sector activity expanded in February for the first time in six months as staffing and purchasing levels increased amid stronger confidence, a survey showed on Tuesday.

The S&P Global South Africa Purchasing Managers' Index (PMI) rose to 50.8 in February from 49.2 in January. A reading above 50 shows expansion, which South Africa had not seen since last August.

The improvement in operating conditions came as new business volumes stabilised, following notable falls in recent months, said S&P. Output continued to fall but at a slower pace.

"Survey evidence suggests that the cooling inflation environment has been a major factor in helping to revive markets," said David Owen, senior economist at S&P Global Market Intelligence.

"However, with the stabilisation in new orders following the worst downturn for a year in January, businesses should not be complacent about the ongoing economic challenges," he added.

South Africa has been suffering from power shortages and a crisis at its State-owned logistics company Transnet, which is struggling to provide adequate freight rail and port services. Durban port still faces a backlog of containers, said S&P.

Edited by Reuters

Comments

Showroom

Yale Lifting Solutions
Yale Lifting Solutions

Yale Lifting Solutions is a leading supplier of lifting and material handling equipment in Southern Africa. Yale offers a wide range of quality...

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (26/04/2024)
26th April 2024 By: Martin Creamer
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.061 0.115s - 138pq - 2rq
Subscribe Now