"The South African stock market edged slightly higher on Wednesday following the release of a purchasing managers' index (PMI) survey that remained in the expansion territory, although it was slightly below its previous reading. The index showed a modest improvement in operating conditions for August as cost pressures eased. Despite the market's overall gain, sector performance was mixed. Ten sectors were under pressure while ten advanced, led by the health technology and process industries sectors."
"The headline PMI stood at 50.1 for the month, down slightly from 50.3 in July. This marks the fourth consecutive month the index has remained marginally above the 50.0 threshold that separates growth from contraction. The reading suggested a slight improvement in business conditions, driven by the first rise in output since May. Notably, input prices rose at their slowest pace in 10 months, with the rand's appreciation against the US dollar cited as a key factor."
The South African stock market edged slightly higher after a PMI survey remained marginally above the 50.0 growth threshold. The headline PMI stood at 50.1 in August, down from 50.3 in July, marking the fourth consecutive month of marginal expansion and reflecting the first rise in output since May. Input prices increased at their slowest pace in ten months, with the rand’s appreciation against the US dollar reducing cost pressures. Market gains were uneven across sectors, with ten sectors declining and ten advancing, led by health technology and process industries. Investors are awaiting Q3 business confidence data that could reinforce the market.
Read at London Business News | Londonlovesbusiness.com
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