World Economy

S. Africa Business Activity Expands

S. Africa Business Activity ExpandsS. Africa Business Activity Expands

South African business activity expanded at the fastest pace in 22 months in October as output and new orders grew substantially, a survey showed on Wednesday. The HSBC Purchasing Managers’ Index (PMI) rose to 52.7 in October, from 52.6 in September, HSBC reported. It said stronger demand from African countries saw new export orders rise in October, while overall demand meant companies continued to increase staff numbers.“While the lingering effects of protracted industrial action weighed on economic growth in Q3, it is evident that current demand conditions are relatively robust, and more supportive of a rebound in GDP growth at the end of the year,” said David Faulkner, an economist at HSBC.