CAPE TOWN: South African private-sector companies remained optimistic about operating conditions in April, but slightly less so than they were in March, an index showed on Wednesday. The Markit-HSBC’s whole economy purchasing managers index (PMI), which is compiled after a survey of about 400 purchasing executives at private companies, inched down to 51.5 in April from 51.6 in March.
A reading above 50 signals an improvement in business conditions on the previous month. April data signaled a third successive monthly rise in output, with companies commenting on improved demand and increased new business. New orders increased at a weaker rate in April compared to March, with the increase driven by stronger domestic demand.
Staffing levels, HSBC said, rose for the second straight month with the rate of job creation at its best in six months.
