Business in South Africa develops in December
2023.01.05 07:47
Business in South Africa develops in December
Budrigannews.com – According to a survey released on Thursday, high prices and power outages continued to dampen client demand, causing private sector activity in South Africa to expand in December but at a slower rate than in November.
Global S&P (NYSE:) The purchasing managers’ index (PMI) in South Africa decreased from 50.6 in November to 50.2 in December, remaining just above the 50-point threshold that distinguishes expansion from contraction.
While output, new orders, and inventories decreased, the positive reading indicated a slight increase in employment.
David Owen, an economist at S&P Global Market Intelligence, stated, “The latest findings suggest that GDP figures are likely to disappoint in the fourth quarter following a more robust expansion in Q3.”
S&P said, however, that reduced inflationary pressures should help to ease the burden on customers, so businesses in South Africa continue to have hope for an improvement in business activity in the coming year.
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