S&P PMI falls more than expected as power cuts harm businesses
The decline in May, the third consecutive one, was among the steepest since July 2021
05 June 2023 - 10:20
Business in SA suffered another setback in May as ongoing power cuts constrained output and added to a fall in new business activity, according to the latest S&P Global SA PMI.
Meanwhile, higher inflation is deterring consumer spending, leading to lower demand, while companies try to contend with greater operating costs partly because of the weaker rand and their investment in alternative energy...
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