South African private sector growth edges up in August, PMI shows

South African private sector activity expanded slightly in August, with the S&P Global Purchasing Managers' Index rising to 50.5 from 50.3 in July, according to a business survey released Thursday. New orders increased marginally, supported by larger orders, successful tenders, and improved customer finances. Output expanded for a second month at its strongest pace since April, while purchasing activity rose at the quickest rate since March, lifting input stocks. Export sales were only just in positive territory, hitting a three-month low. S&P Global economist David Owen noted business expectations rely on a recovery in domestic and external conditions, implying the path to stronger growth remains unclear.