https://www.engineeringnews.co.za

South Africa business activity rises in August, PMI shows

4th September 2024

By: Reuters

  

Font size: - +

South African private sector activity rose in August as firms received higher volumes of new orders for the first time since April 2023, a survey showed on Wednesday.

The S&P Global South Africa Purchasing Managers' Index rose to 50.5 in August from 49.3 in July, the first time it has been above the 50 point mark - which separates growth from contraction - in three months.

"South African businesses saw demand growth emerge in August, as customers increased their spending on the back of falling CPI inflation figures and a general optimism that economic conditions are stabilising," said David Owen, senior economist at S&P Global Market Intelligence.

South Africa's inflation fell to a more than three-year low of 4.6% year on year in July from 5.1% in June, offering some relief to consumers and cementing analysts' expectations for an interest rate cut this month.

"The rise in new orders was the first recorded in over a year, offering hope that the recent malaise in the private sector is starting to fade," Owen added.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sweet-Orr
Sweet-Orr

Sweet-Orr, established in 1871, is a global leader in superior protective workwear, known for quality, innovation, and performance.

VISIT SHOWROOM 
AirNox Pty Ltd
AirNox Pty Ltd

AirNox (Pty) Ltd is a level 1 BBBEE manufacturer of complete AdBlue® solutions for operators of SCR diesel engines and AUS40 across South Africa...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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







301

sq:0.051 0.75s - 141pq - 2rq
Subscribe Now