Fuel price boost for business activity - PMI

Johannesburg - Business activity in the private sector stabilised in February after shrinking for two months, a survey showed on Wednesday, with falling fuel prices offering companies some respite.

South Africa's HSBC Purchasing Managers' Index (PMI) inched up to 50.0 in February from 49.8 in January. A reading above 50 marks growth in activity while a reading below shows a contraction.

Companies reported new clients but virtually the same level of new orders as in January, restraining any meaningful expansion in business activity, HSBC said.