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Investing.com -- South African business activity experienced a significant surge in May, marking the fastest pace of growth in four years, according to a survey released on Wednesday.
This uptick was primarily fueled by a strong rise in private sector output and an enhancement in customer confidence.
The S&P Global South Africa Purchasing Managers’ Index (PMI), a key measure of economic health, showed a noteworthy increase.
The index climbed to 50.8 in May, up from 50.0 in April. This is the first time the index has indicated growth since November 2024.
A PMI reading above 50 is a positive sign, indicating growth in the business sector. Conversely, a reading below 50 suggests a contraction.
The May reading, therefore, points to an expansion in South African business activity, breaking a trend of contraction that had persisted since late 2024.
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