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South Africa's Private Sector Contracts For Second Month

South Africa's private sector activity deteriorated further in August, survey data from IHS Markit showed Wednesday.

The Standard Bank South Africa Purchasing Managers' Index dropped to 48.5 in September from 49.8 in August. Any reading below 50 suggests contraction in the sector.

Moreover, the second successive monthly deterioration was the most marked since April 2016.

Among components, output, new orders and employment all declined in September. Decrease in new orders was the sharpest in 17 months.

On the price front, inflationary pressures intensified in September as both overall input costs and output prices rose at faster rates.

by RTTNews Staff Writer

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