South Africa’s PMI rises to 48.1%

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South Africa’s seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose to 48.1percent in October, from a revised 45.1 in the previous month.

According to absa, the business activity index increased after two consecutive declines, while new sales orders also improved somewhat from a sharp drop in September.

“However, both indices remained below the 50-point mark pointing to a decline in demand and output,” Absa said in a statement.

Peace PIAK