South Africa's private sector growth slows to a crawl in May: PMI

South Africa's HSBC Purchasing Managers' Index (PMI) edged down to 50.1 in May from 51.5 in April, its lowest reading since February, although it held just above the 50 mark denoting growth in activity. Companies surveyed reported a decline in output for the first time this year, HSBC said. "May’s survey results paint a worrying picture of the health of South Africa’s private sector economy.