Cape Town - South African business conditions in March improved for the seventh month running, the Standard Bank Purchasing Managers' Index (PMI) showed on Wednesday.
At 50.7, up from February’s 50.5, the PMI was little changed but signalled an ongoing improvement in private sector operating conditions in the longest sequence of positive readings in over four years. A reading above 50 indicates an increase, while one below 50 shows a decrease.
The latest figure was broadly in line with the long-run survey average of 50.8, and the PMI's five components were all mildly positive in March. Output, new orders and stocks of purchases increased at slightly faster – albeit still weak – rates than in February, but the pace of job creation slowed.