From Reuters Africa

South Africa’s private sector shrank slightly in January, a survey showed on Wednesday, ending a four-month period of continuous growth. The HSBC Purchasing Managers’ Index (PMI) fell to 49.8 as companies reported declines in output and new orders, while new export orders were also down.

December’s PMI reading was 50.2, just above the 50 line that divides growth from contraction.

“There was a broad-based weakening in South Africa’s economic environment,” HSBC economist David Faulkner said.

“In recent months, headline PMI readings have pointed towards fading growth momentum, suggesting South Africa’s growth prospects in 2015 remain fragile.”

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