Casablanca (ADV) – South African private-sector activity expanded notably in June after a short period of two months where it stagned. Business analysts suggest a return of momentum to the economy.
The Standard Bank Purchasing Managers’ Index (PMI), compiled by Markit, inched up to 50.9 in June from 50.0 in May, with the sub-indexes for output, new orders and employment all above the 50 mark that separates expansion from contraction. The overall reading was the highest since March.
“This is in line with our view that the PMI will, during the remainder of 2018, largely show signs of improving domestic business conditions influenced by domestic consumption expenditure and reasonable global growth,” Standard Bank economist Thanda Sithole said.
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