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Financial News: South Africa Private Sector Grows In March

South Africa Private Sector Grows In March

04/07/2021 - 08:04:00 (RTTNews)

(RTTNews) - South Africa's private sector expanded marginally in March, survey data from IHS Markit showed on Wednesday.

The headline Purchasing Managers' Index rose to 50.3 in March from 50.2 in February. Any reading above 50 indicates expansion in the sector.

Business output continued to increase in March, while input supply declined. New order volume decreased for the fifth straight month in March.

Suppliers' delivery times lengthened to the greatest extend in four months in March. Input buying rose for the first time since November last year.

Input price inflation rose to the highest since October 2018 and output charges increased modestly.

Job reduction continued in March and backlogs of work increased.

Business expectation for the next 12 months decreased in March with the hopes of an end to the Covid-19 pandemic due to the roll-out of vaccine.

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