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Financial News: South Africa Private Sector Contracts In July

South Africa Private Sector Contracts In July

08/03/2018 - 07:33:00 (RTTNews)

(RTTNews) - South Africa's private sector activity deteriorated for the first time in six months in July, survey data from Standard Bank and IHS Markit showed Friday.

The Purchasing Managers' Index dropped to 49.3 in July from 50.9 in the previous month.

A reading above 50 indicates expansion, while any score below 50 suggests contraction in the sector.

Among components, output, new orders and employment all declined in July.

On the price front, price pressures softened slightly during the month.

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