Strong export growth reported

January saw the strongest recorded growth in new export business by the Investec Purchase Managers’ Index (PMI), which follows the seven-year export high recorded in December.

The growth in the export business was driven by strong demand from the US and the UK, with nearly 30% of respondents noting a rise in new export orders, against 9% that reported a fall.

Investec’s monthly Services PMI came in at 61.5, a little below the seven-year high of 61.8 recorded in December 2013.