JOHANNESBURG, Sept 3 (Reuters) – South African private sector activity expanded slightly in August as higher new orders supported output and purchasing, a business survey showed on Thursday.
• The S&P Global South Africa Purchasing Managers’ Index (PMI) rose to 50.5 in August from 50.3 in July.
• The 50 mark separates growth from contraction.
• New orders increased marginally, with surveyed businesses reporting larger orders, successful tenders and rising sales as customer finances improved.
• Output expanded for a second month and at the strongest pace since April. Purchasing activity also rose at the quickest rate since March, helping lift input stocks at the fastest pace in four months.
• Export sales were only just in positive territory and hit a three-month low, the survey showed.
• “Survey comments suggest that business expectations also rely on a recovery of both domestic and external economic conditions, implying the path to stronger growth remains unclear,” said S&P Global Market Intelligence Senior Economist David Owen.
(Reporting by Johannesburg bureau; Editing by Hugh Lawson)
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