South African business activity contracts in March - PMI

📆 2023/04/05 23:41:00
📰 ReutersAfrica

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South African private sector economic activity contracted in March as rotational power cuts and inflationary pressures weighed on business, a survey showed on Wednesday.

The S&P Global South Africa Purchasing Managers' Index fell to 49.7 in March from 50.5 in February, dropping below the 50 mark dividing growth from contraction.

State power utility Eskom is implementing the biggest rolling power cuts on record, leaving households and businesses in the dark for up to 10 hours a day.

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