People work at ''The Faktory", a fashion design and clothing manufacturing company in Johannesburg, South Africa.People work at ''The Faktory", a fashion design and clothing manufacturing company in Johannesburg, South Africa.the previous monthThe S&P Global South Africa Purchasing Managers’ Index rose to 50.5 in February from 48.7 in January. A reading above 50 reflects growth.
“The latest South Africa PMI helped to allay fears of a renewed downturn in the private sector economy, after a rocky start to the year saw the headline index hit a 13-month low,” said David Owen, senior economist at S&P Global Market Intelligence. “However, while output levels stabilised in February, they did so after contracting at a solid pace,” Owen added.
Surveyed firms reported a slight recovery in purchasing levels, but the outlook for future activity worsened further and firms cut employment for the first time in a year, the PMI showed.
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South African business activity stabilises in February - PMISouth African private sector activity stabilised in February after a sharp drop the previous month, a survey showed on Friday.
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