By Reuters
South Africa’s private sector expanded slightly in July marking the third consecutive month of growth helped by renewed sales growth and sustained employment increases, a survey showed on Tuesday.
The S&P Global South Africa Purchasing Managers’ Index (PMI) rose to 50.3 in July from 50.1 in June, S&P Global reported. Readings above 50 indicate growth in business activity, while below that signals contraction.
New orders and employment were the primary contributors to the headline figure, as new business volumes increased following a dip in June.
Domestic sales improved, particularly in services and wholesale & retail sectors, while new export business continued to decline for the fourth consecutive month.
Employment growth continued for the second month in a row. The rate of expansion was the fastest since May 2024, supported by both permanent and temporary hires. This hiring helped reduce backlogs, with the quickest decrease in outstanding business since February.
You’ve reached your free article limit
Subscribe to enjoy unlimited access to trusted journalism. Cancel anytime.
Subscribe nowNeed help? molokom@insidepolitic.co.za
