South Africa Private Sector Growth Hits 44-Month High
The S&P Global South Africa PMI rose to 51.6 in April as sales expanded. Growth was driven by export demand and stock building despite rising fuel and oil costs.
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South Africa private sector activity rose to a 44-month high in April as the S&P Global PMI reached 51.6. The reading climbed from 50.8 in March, marking the strongest expansion for the nation since mid-2022. Investors should note that "safety stock" building linked to Middle East tensions drove much of this temporary growth.
