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Financial News: South Africa Private Sector Expands Marginally In December

South Africa Private Sector Expands Marginally In December

01/05/2023 - 06:55:00 (RTTNews)

(RTTNews) - South Africa's private sector expanded only marginally in December due to a renewed fall in demand conditions, survey results from S&P Global showed Thursday.

The Purchasing Managers' Index fell to 50.2 in December from 50.6 in November. However, a score above 50.0 indicates expansion.

There was a slight upturn in employment and also longer supplier delivery times. By contrast, output, new orders and stocks of purchases registered contractions.

Input price pressures showed signs of easing from the marked levels seen earlier in 2022. Input cost inflation hit the lowest since October 2021. And companies passed on higher cost burdens to their clients through a hike in output charges.

The latest findings suggest that GDP figures are likely to disappoint in the fourth quarter following a more robust expansion in third quarter, David Owen, an economist at S&P Global Market Intelligence, said.

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