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Financial News: South Africa's Private Sector Growth Slows Further

South Africa's Private Sector Growth Slows Further

06/05/2017 - 03:49:00 (RTTNews)

(RTTNews) - South Africa's private sector growth eased further in May, as both output and new orders remained broadly neutral, survey data from IHS Markit showed Monday.

The Standard Bank South Africa Purchasing Managers' Index edged down to 50.2 in May from 50.3 in April. However, any reading above 50 indicates expansion in the sector.

The PMI remained above 50.0 for the ninth month running in April, signaling the longest sequence of overall improvement, Markit said.

Among components, output and new orders were both broadly unchanged and stocks of purchases contracted in May.

Employment in the sector increased again in May. Moreover, the current 11-month sequence of job creation was the longest observed in four years.

On the price front, input price inflation moderated further in May to new survey record low.

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