(Repeats for additional subscribers)
LONDON Feb 3 JOHANNESBURG, Feb 3 (Reuters) -
Activity in South Africa's private sector remained in growth
territory in January but dipped from December as demand for
exports sank, a survey showed on Friday.
The Standard Bank Purchasing Managers' Index (PMI), compiled
by Markit edged down to 51.3 from 51.6, remaining above the 50
mark dividing expansion from contraction for a fifth consecutive
"January's expansion in economic activity extended
December's trend, further supporting the idea that domestic
growth may have troughed," said economist at Standard Bank
Companies surveyed reported a marginal increase in new
business and output in January, but that was countered by a
decrease in exports, with some firms citing the loss of major
"Exports continued to suffer, recording an accelerated pace
of contraction... This was while overall demand continued to
expand, albeit at a slower pace," Naidoo said.
Trade data published by the revenue service on Tuesday
showed exports down 6.1 percent month-on-month in January, while
subdued consumer and business confidence dampened imports as low
activity continued to strangle growth in Africa's most
The South African Reserve Bank (SARB) last week lowered its
economic growth estimates to 1.1 percent for 2017 and 1.6
percent for 2018.
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(Reporting by Mfuneko Toyana; editing by John Stonestreet)
(Edited by Jeremy Gaunt)