SA’s economy could remain in the doldrums, survey shows
By Sunita Menon - Oct 5th, 10:20
The Standard Bank PMI remained in contractionary territory for a third consecutive month.
Private-sector activity has remained subdued, indicating that the economy remained weak in the third quarter.
The Standard Bank purchasing managers index (PMI) showed that domestic business conditions improved slightly in September to 48 after dropping to a 29-month low of 47.2 in August.
The index looks at the whole economy and a score below 50 and indicates a contraction in business conditions. This is the third consecutive month of deterioration.
The PMI decline was broad-based as new orders, output, employment and inventories fell further. However, Standard Bank said the index was likely to improve as President Cyril Ramaphosa’s economic stimulus plan took hold.
“The recent improvements in the Mining Charter together with President Ramaphosa’s economic stimulus plan — which includes, among others, plans to reduce cost of doing business — should boost business confidence and investment and economic growth over the medium term,” Standard Bank economist Thanda Sithole said.
The Absa PMI, which measures sentiment in the manufacturing sector, also pointed to a weak economy in the third quarter. The index dipped to its lowest level in just over a year, slipping to 43.2 points in September from 43.4 in August.
This comes after the shock second-quarter GDP figures, which indicated that SA had entered a recession. The latest data has indicated that SA will continue to falter in the third quarter.Business Live
SA retail sales jump as spending on consumer goods rises
19/10/2018 - 14:31
South Africa’s retail sales rose in August as household goods, clothing and cosmetics grew, data showed on Wednesday, with recovering consumer spending a sign the economy is climbing out of a recession that has piled pressure on President Cyril Ramaphosa.
Retail sector shows a glimmer of growth
17/10/2018 - 13:32
Retailers surprised economists in August, with annual sales growth of 2.5% — far higher than the consensus 0.3%.
How poor customer service impacts the retail customer experience
17/10/2018 - 09:31
Picture the situation: you're on the phone with customer support. You speak to a representative who can't help you. Your call gets forwarded to another agent. So you start your story over from the beginning and explain what you need to get out of the call. They can begin a process but will really need another team to jump in to complete. Another agent takes up your case and again you explain your situation as well as a summary of the two previous calls.
SA Citrus exports close in on 2 million tons
16/10/2018 - 15:07
Yet another important milestone has been reached by the South African citrus industry. According to Justin Chadwick, CEO of the Citrus Growers’ Association, citrus production has reached a record volume packed for export in 2018.
Benefits of working with influencers for your startup
16/10/2018 - 14:20
Considering the growth in popular social media personalities, many brands have seen powerful results when working with these personalities to market their products or services online.