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South Africa's Private Sector Contracts Further

South Africa's private sector activity contracted for the sixth successive month in January, data from Standard Bank and IHS Markit showed Monday.

The Purchasing Managers' Index rose to 49.0 in January from 48.8 in December. However, any reading below 50 suggests contraction in the sector.

Among components, output, new orders and exports all continued to decline in January. At the same time, employment rose for the first time in three months.

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