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Financial News: South Africa Private Sector Activity Falls For Fifth

South Africa Private Sector Activity Falls For Fifth Month

10/03/2019 - 09:25:00 (RTTNews)

(RTTNews) - South Africa's private sector activity declined for the fifth straight month, but at a slower rate, in September amid a fall in output, new orders and employment, survey data from IHS Markit showed on Thursday.

The headline South Africa purchasing managers' index, or PMI, fell to 49.2 in September from 49.7 in August. Any reading below 50 indicates a contraction in the sector.

New orders declined for the fifteenth month in a row in September and output decreased.

Some firms were affected negatively by unrest and political demonstrations in September, and hence, some limited investment into products and marketing.

Employment and purchasing activity declined in September. Delivery time decreased slightly to an eight-month low.

Output cost declined for the first time in five months in September and input price inflation was the slowest in five months.

"Sales have now dropped for 15 successive months and, whilst the level of sentiment was positive overall, many panelists noted that uncertainty in the economy dampened their forecasts for future activity," David Owen, economist at IHS Markit, said.

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