South Africa: Private-sector output stabilizes in February
March 5, 2019
In February, the Standard Bank Purchasing Managers’ Index (PMI) climbed 0.6 points to 50.2 points, landing above the 50-point threshold that distinguishes improvement from deterioration in the South African private sector for the first time in eight months.
February’s reading reflected a more moderate fall in new orders, as well as stabilizing output on the heels of a seven-month decline. Moreover, employment picked up. For its part, business confidence edged down on concerns over short-term export orders.