https://www.miningweekly.com

South African business activity contracts in Sept – S&P PMI

5th October 2022

By: Reuters

  

Font size: - +

South African private sector activity contracted in September as increased power cuts led to steep falls in output and new orders, a survey showed on Wednesday.

S&P Global's South Africa purchasing managers' index (PMI) fell to 49.2 in September from 51.7 in August. Readings below 50 indicate a contraction in activity.

Rates of decline for both output and sales were the sharpest recorded in 2022 so far.

"Output and new business fell at their quickest speeds since last December, as both businesses and consumers reined in spending due to load shedding (power cuts) and the cost-of-living crisis," said David Owen, economist at S&P Global Market Intelligence.

However, Owen said there were signs inflationary pressures were easing on the back of lower commodity prices.

Power cuts have reached record levels this year in South Africa, as state utility Eskom's inefficient coal-fired power stations have suffered repeated breakdowns.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Lilak Aluminium
Lilak Aluminium

For over 15 years, Lilak Aluminium, a trusted leader in architectural extrusion supply, has delivered excellence to businesses like yours.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.047 1.148s - 128pq - 2rq
Subscribe Now