FOREX TradingCharts.com

Financial News: South Africa Private Sector Deteriorates At Slower Pace

South Africa Private Sector Deteriorates At Slower Pace

03/04/2020 - 06:38:00 (RTTNews)

(RTTNews) - South Africa private sector continued to decline in February but at a slightly slower pace, survey data from IHS Markit showed on Wednesday.

The headline Purchasing Managers' Index rose to 48.4 in February from 48.3 in January. Any reading below 50 indicates contraction in the sector.

Business activity decreased for the tenth month in a row in February, as firms struggled with lower order book volumes and load shedding.

Demand was restricted by poor conditions in the domestic market, and also due to a drop in export sales from China due to the coronavirus outbreak. The total new orders fell to the softest in three months.

Jobs were cut at the fastest rate since July 2011, mainly due to weaker demand and efforts to combat rising cost inflation. Backlogs of works dropped with increase in spare capacity.

On the price front, the rate of overall input cost inflation was the highest in eight months in February and output charges increased at the fastest rate for sixteen months.

Delivery times lengthened due to delays in imports from China in February. Purchasing activity declined due to lower output requirements.

Confidence for the next year reached the highest since March 2018 and firms were more optimistic for future output growth.

"With China being South Africa's largest trade partner, the shutdown of factories and offices in the world's second-largest economy led to a steep lengthening of input delivery times," David Owen, economist at IHS Markit, said.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


New Zealand Commodity Prices Fall For Fourth Month (04 min(s), 35 sec(s) ago)
(RTTNews) - New Zealand's commodity prices declined for the fourth straight month in March, da ...Full Story»

European Economics Preview: Germany Factory Orders Data Due (24 min(s), 35 sec(s) ago)
(RTTNews) - Factory orders from Germany and investor confidence from euro area are due on Monday, ...Full Story»

Ireland Construction Sector Contracts Most In 11 Years On COVID-19 Pandemic (40 min(s), 35 sec(s) ago)
(RTTNews) - Ireland's construction sector contracted at the sharpest pace in eleven years in M ...Full Story»

UK Consumer Confidence Logs Biggest Fall On Record: GfK (54 min(s), 25 sec(s) ago)
(RTTNews) - UK consumer sentiment registered its biggest fall since records began in January 1974 ...Full Story»

Australia Inflation Forecast Due On Monday (10 min(s), 25 sec(s) ago)
(RTTNews) - Australia will on Monday see the March inflation forecast from TD Securities, highligh ...Full Story»

Brazil Services Sector Shrinks At Record Pace On Covid-19 Disruption (10 min(s), 25 sec(s) ago)
(RTTNews) - Brazil's service sector shrunk at the fastest pace in the survey's 13-year his ...Full Story»

U.S. Employment Plunges By 701,000 Jobs In March, Much More Than Expected (38 min(s), 25 sec(s) ago)
(RTTNews) - Employment in the U.S. fell much more than expected in the month of March, according t ...Full Story»

U.S. Employment Plunges Much More Than Expected In March (49 min(s), 25 sec(s) ago)
(RTTNews) - Employment in the U.S. fell much more than expected in the month of March, according t ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

New Zealand Commodity Prices Fall For Fourth Month

04/06/2020 - 01:45 AM (RTTNews)
(RTTNews) - New Zealand's commodity prices declined for the fourth straight month in March, da ...Full Story>>

European Economics Preview: Germany Factory Orders Data Due

04/06/2020 - 01:25 AM (RTTNews)
(RTTNews) - Factory orders from Germany and investor confidence from euro area are due on Monday, ...Full Story>>

Ireland Construction Sector Contracts Most In 11 Years On COVID-19 Pandemic

04/06/2020 - 01:09 AM (RTTNews)
(RTTNews) - Ireland's construction sector contracted at the sharpest pace in eleven years in M ...Full Story>>

UK Consumer Confidence Logs Biggest Fall On Record: GfK

04/05/2020 - 23:44 PM (RTTNews)
(RTTNews) - UK consumer sentiment registered its biggest fall since records began in January 1974 ...Full Story>>

Australia Inflation Forecast Due On Monday

04/05/2020 - 18:00 PM (RTTNews)
(RTTNews) - Australia will on Monday see the March inflation forecast from TD Securities, highligh ...Full Story>>
Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.