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South Africa’s Absa PMI falls to 13-month low in August

JOHANNESBURG – South Africa’s seasonally adjusted Absa Purchasing Managers’ Index (PMI) fell to 13-month low in August driven by large declines in new sales and business activity, a survey showed on Monday.

READSA expected to dodge a recession
 

The index, which is compiled by the Bureau for Economic Research and gauges manufacturing activity in Africa’s most industrialised economy, fell to 43.4 in August from 51.5 in July, its lowest reading since July 2017 and well below the 50-mark separating contraction from expansion.

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