Absa PMI falls in January

South Africa‘s seasonally adjusted Absa Purchasing Managers’ Index (PMI) fell in January as four out of five measures of factory performance declined, led by slumps in new orders and business activity, the survey showed on Friday.

The index, which gauges manufacturing activity in Africa‘s most industrialised economy, slipped to 49.9 in January from 50.7 in December, sliding just below the 50 mark that separates contraction from expansion.