proved an outlier as service sector activity expanded there at its quickest pace in three months, underpinned by robust consumer spending as inbound tourism regained momentum.
That was below the 50 mark separating growth from contraction for a third month and weaker than a preliminary estimate for 47.0. "The final PMIs published today were revised down from the already-low levels reported in the flash measure two weeks ago. We continue to forecast a recession in the second half of the year," said Adrian Prettejohn at Capital Economics.
Chinese stocks fell after the survey, while optimism spurred by Beijing's latest stimulus measures also dimmed.Japan's PMI bucked the trend and rose to 54.3 last month from 53.8.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Invasive species costs global economy R8 trn per yearThe spread of invasive species around the world has seen economic damages quadruple every decade since 1970, a new report shows.
Source: News24 - 🏆 4. / 80 Read more »
Ford scores biggest as new vehicle sales dive in AugustRanger recorded its best performance since April when it became the country's best-selling new vehicle.
Source: TheCitizen_News - 🏆 6. / 75 Read more »
Ditsobotla Local Municipality employees not paid August salariesEmployees of the Lichtenburg based Ditsobotla Local Municipality in the North West, say they have not been paid for the month of August.
Source: SABCNews - 🏆 37. / 51 Read more »
Egypt's non-oil private sector shrinkage steady in August -PMIEgypt's non-oil private sector kept shrinking at a subdued rate in August, while expectations for the future improved marginally, the S&P Global Egypt Purchasing Managers' Index (PMI) showed on Tuesday.
Source: ReutersAfrica - 🏆 31. / 53 Read more »
Kenya private sector activity expands in AugustPrivate sector activity in Kenya expanded in August, helped by greater political stability that boosted both services and manufacturing, a survey showed on Tuesday.
Source: ReutersAfrica - 🏆 31. / 53 Read more »
Revealed: South Africa’s most popular SUVs in AugustToyota Corolla Cross comfortably wins race ahead of Chery Tiggo 7 Pro, Hyundai Venue and Nissan Magnite.
Source: TheCitizen_News - 🏆 6. / 75 Read more »