South African Private Sector Records Growth

 South Africa’s private sector expanded marginally in March, survey data from IHS Markit showed on Wednesday.

The headline purchasing managers’ index rose to 50.3 in March, from 50.2 in February.

Any reading above 50 indicates expansion in the sector.

Business output continued to increase in March, while input supply declined.

New order volume decreased for the fifth straight month in March.

For March, suppliers’ delivery times lengthened to the greatest extent in four months.

Input buying rose for the first time since November.

Input price inflation rose to the highest since October 2018 and output charges increased modestly.

Job reduction continued in March and backlogs of work increased.

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