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Financial News: South Africa Private Sector Contracts For Fifth Month

South Africa Private Sector Contracts For Fifth Month

01/04/2018 - 05:17:00 (RTTNews)

(RTTNews) - South Africa's private sector activity deteriorated further in December, data from Standard Bank and IHS Markit showed Thursday.

The Purchasing Managers' Index dropped to 48.4 in December from 48.8 in November. Any reading below 50 suggests contraction in the sector.

Output declined at the steepest pace in 21 months in December and new orders continued to fall, though at a slightly softer pace than in November.

On the price front, output price inflation eases slightly, despite a stronger uptick in cost burdens.

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