ECONOMICS COMMENTARY
Nov 05, 2013
New South Africa PMI shows resumption of growth in October
South Africa's private sector companies reported a marginal rise in activity in October following a contraction in September, according to the new HSBC PMI compiled by Markit. New orders also rose, with the rate of growth in new work the quickest since May. Anecdotal evidence suggested that improving market conditions and stronger consumer confidence both contributed to the rise in new business. However, respondents reported that unfavourable exchange rates and difficulties in European markets led to a decline in export sales.
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