JOHANNESBURG - South African private sector activity grew in May as new order volumes stabilised and business confidence improved, a survey showed on Wednesday.
"Firms appeared to prioritise building stocks in anticipation that sales would start to recover, particularly as other economic drivers such as supply chain conditions and load shedding are also stabilising," said David Owen, senior economist at S&P Global Market Intelligence. The African National Congress - once led by Nelson Mandela - lost its majority for the first time in last week's election with markets closely watching who it will partner with to govern the nation.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.