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SA business activity grew in January as Covid-19 cases receded — PMI

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South African private sector activity rose slightly in January as the Omicron wave of Covid-19 cases receded, lifting demand and stabilising new business, a survey showed on Thursday.

IHS Markit's Purchasing Managers' Index rose to 50.9 in January from 48.4 in December, slightly back above the 50 neutral mark into expansionary territory.

Still, supply chain challenges remained acute, with a number of businesses struggling to stock the inputs they need while facing sharp inflationary pressures for materials and transport.

 

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