South Africa business activity accelerates in Sept as inflation eases, S&P PMI shows

South Africa's private sector saw an uptick in growth in September, driven by a rise in business activity and a significant cooling of inflationary pressures, a survey by S&P Global showed on Thursday. The S&P Global South Africa Purchasing Managers' Index (PMI) climbed to 51.0 in September from 50.5 in August, marking the second consecutive month above the 50.0 threshold that separates growth from contraction. This reading is the joint-highest in over two years, matching that of August 2023.