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Financial News: South Africa's Private Sector Expands For Second Month

South Africa's Private Sector Expands For Second Month

04/05/2018 - 06:44:00 (RTTNews)

(RTTNews) - South Africa's private sector activity signaled further modest improvement in March, survey data from Standard Bank and IHS Markit showed Thursday.

The Purchasing Managers' Index dropped to 51.1 in March from 51.4 in February. However, a score above 50 indicates expansion in the sector.

Among components, output and new orders rose at slower rates in March, while employment growth accelerated to a seven-month high.

On the price front, increased cost burdens resulted higher average selling prices.

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