South Africa’s Absa PMI rises in October
PHOTO: Supplied by Absa Group.
JOHANNESBURG –
Business activity in the broader manufacturing sector in South Africa rebounded in October, but there are still concerns about the impact of the slowing global economy on demand for exported goods.
Business activity in the broader manufacturing sector in South Africa rebounded in October, but there are still concerns about the impact of the slowing global economy on demand for exported goods.
The ABSA Purchasing Managers’ Index (PMI), released on Friday, lifted from a revised 45.1 points in September to 48.1 points in October, moving the PMI data closer to the benchmark level of 50 which separates expansion from contraction.
The PMI sets the tone for how manufacturers and various stakeholders in the broader
Source: iol.co.za
