Floods, power cuts weighed on South African factory activity in April

South African private sector activity expanded at a slower rate in April as power cuts and floods in KwaZulu-Natal province weighed on output and new orders, a survey showed on Thursday. The S&P Global South Africa Purchasing Managers’ Index (PMI) fell to 50.3 in April from 51.4 in March, dropping to its lowest in four months. A reading above 50 shows growth in the sector.