Business conditions in the private sector moved into positive territory for the first time in more than a year in October, as eased lockdown restrictions supported a recovery in activity, according to the latest IHS Markit SA Purchasing Managers’ Index
The PMI gives an indication of private-sector business performance, surveying 400 private-sector companies across the economy. A reading of more than 50 shows overall improvement and it is derived from indicators for new orders, output, employment, suppliers’ delivery times and stocks of purchases.
“The latest data suggest that GDP could grow again during the final three months of 2020, after an anticipated ‘mechanical’ rebound in the third quarter,” said Harker.
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