IHS Markit PMI rises to 51 in October

Economic analysis agency IHS Markit South Africa says the country’s private sector returned to growth in October as an easing of Covid-19 restrictions helped to support an ongoing recovery in demand from the worst of the downturn in May.

The agency says the Purchasing Managers’ Index (PMI) for October recorded expanded new orders and purchasing activity, while employment fell at the slowest pace since before the virus outbreak.