https://newsletter.en.creamermedia.com
Africa|Business
Africa|Business
africa|business

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

Comments

 

Showroom

Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 
GreaseMax
GreaseMax

GreaseMax is a chemically operated automatic lubricator.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 13 December 2024
Magazine round up | 13 December 2024
13th December 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:0.17 0.266s - 191pq - 2rq
Subscribe Now