Absa PMI falls to lowest in 10 years

South Africa’s seasonally adjusted Absa Purchasing Managers’ Index (PMI) sunk to its lowest level in a decade in September, on weak demand linked to fears over slowing domestic and global growth, the survey showed on Tuesday.

The index, which gauges manufacturing activity in Africa’s most industrialised economy, fell to 41.6 in September, from 45.7 in the previous month.