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The Standard Bank Purchasing Managers’ Index, which measures private sector activity, declined slightly in March, but managed to stay above the 50-point mark, reflecting expansion in the private sector for the second consecutive month.
This is mainly the result of improving domestic business conditions, built on the hope of an improving political landscape, such as restoring good governance at state-owned enterprises.
It is also hoped that the Reserve Bank‘s interest rate cut of 25 basis points will stimulate domestic demand, especially in light of an improvement in investor confidence since late December.
