South Africa’s private sector experienced growth in February for the first time in six months, as hiring and spending levels rose in tandem with improved confidence.
The S&P Global South Africa Purchasing Managers’ Index (PMI) increased to 50.8 in February from 49.2 in January.
A rating over 50 indicates expansion, something the nation has not experienced since August last year.
After significant declines in recent months, new business volumes stabilised, coinciding with an improvement in operational conditions.
The country has been plagued by ongoing power outages and a crisis at Transnet which is finding it difficult to offer sufficient freight rail and port services.
There is currently a backlog of containers at Durban port.
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