JOHANNESBURG - South African private sector activity rose in August as firms received higher volumes of new orders for the first time since April 2023, a survey showed on Wednesday.
"South African businesses saw demand growth emerge in August, as customers increased their spending on the back of falling CPI inflation figures and a general optimism that economic conditions are stabilising," said David Owen, senior economist at S&P Global Market Intelligence. "The rise in new orders was the first recorded in over a year, offering hope that the recent malaise in the private sector is starting to fade," Owen added.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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