FOREX TradingCharts.com

Financial News: South Africa PMI At 29-month Low In August

South Africa PMI At 29-month Low In August

09/05/2018 - 03:45:00 (RTTNews)

(RTTNews) - South Africa's private sector contracted at the fastest pace in over two years amid a sharp fall in new work, survey data from IHS Markit showed Wednesday.

The headline Standard Bank South Africa Purchasing Managers' Index fell to a 29-month low of 47.2 from 49.3 in July. A reading below 50 suggests contraction in activity. Output fell at the sharpest pace since March 2016.

The private sector contracted for a second straight month and the downturn was marked, reflecting quicker declines in new business inflows, output and stocks of purchases, the survey found.

The PMI survey data was in sync with the overall economic situation. Official figures showed on Wednesday that the economy entered a recession during the second quarter, the first in nearly a decade.

"The poorly performing PMI reflects economic policy uncertainty, increased cost pressures from elevated oil prices, rand weakness and labor strikes," Thanda Sithole, economist at Standard Bank, said.

"Even our below-consensus real GDP growth of 1.2% for 2018 might now disappoint. Nevertheless, the SARB leading indicator rose further in June, which is hopeful for medium-term growth prospects."

The economist expects real GDP growth of 2.0 percent for 2019.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


SECO Raises Swiss GDP Growth Outlook (43 min(s), 37 sec(s) ago)
(RTTNews) - The Swiss federal government's expert group raised its growth outlook for 2018 but ...Full Story»

Europe's Passenger Car Registrations Increase: ACEA (01 hr(s), 25 min(s), 37 sec(s) ago)
(RTTNews) - Europe's passenger car registrations increased at faster rates in July and August, ...Full Story»

Australia Westpac Leading Index Signals Slowing Growth Momentum (02 hr(s), 06 min(s), 37 sec(s) ago)
(RTTNews) - Australia's leading index signaled a slowing growth momentum into the second half ...Full Story»

European Economics Preview: UK Inflation Data Due (02 hr(s), 34 min(s), 37 sec(s) ago)
(RTTNews) - Consumer and producer prices from the UK and current account from euro area are due on ...Full Story»

Malaysia's Inflation Eases More Than Forecast (02 hr(s), 58 min(s), 37 sec(s) ago)
(RTTNews) - Malaysia's inflation eased more-than-expected in August on fuel cost, figures from ...Full Story»

BoJ Maintains Monetary Stimulus (03 hr(s), 21 min(s), 37 sec(s) ago)
(RTTNews) - The Bank of Japan kept its ultra-loose monetary policy unchanged, as widely expected, ...Full Story»

Japan Has Y444.594 Billion Trade Shortfall (31 min(s), 23 sec(s) ago)
(RTTNews) - Japan posted a 444.594 billion yen trade deficit in August, the Ministry of Finance sa ...Full Story»

New Zealand Q2 Current Account Deficit NZ$2.7 Billion (31 min(s), 23 sec(s) ago)
(RTTNews) - New Zealand's seasonally adjusted current account deficit fell to NZ$2.7 billion f ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

SECO Raises Swiss GDP Growth Outlook

09/19/2018 - 03:00 AM (RTTNews)
(RTTNews) - The Swiss federal government's expert group raised its growth outlook for 2018 but ...Full Story>>

Europe's Passenger Car Registrations Increase: ACEA

09/19/2018 - 02:18 AM (RTTNews)
(RTTNews) - Europe's passenger car registrations increased at faster rates in July and August, ...Full Story>>

Australia Westpac Leading Index Signals Slowing Growth Momentum

09/19/2018 - 01:37 AM (RTTNews)
(RTTNews) - Australia's leading index signaled a slowing growth momentum into the second half ...Full Story>>

European Economics Preview: UK Inflation Data Due

09/19/2018 - 01:09 AM (RTTNews)
(RTTNews) - Consumer and producer prices from the UK and current account from euro area are due on ...Full Story>>

Malaysia's Inflation Eases More Than Forecast

09/19/2018 - 00:45 AM (RTTNews)
(RTTNews) - Malaysia's inflation eased more-than-expected in August on fuel cost, figures from ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.