South Africa’s Absa PMI drops in May, what you need to know

PUBLISHED: Mon, 03 Jun 2019 17:27:34 GMT

JOHANNESBURG (Reuters) – South Africa’s seasonally adjusted Absa Purchasing Managers’ Index (PMI) for May fell as business activity and new sales orders declined, the survey showed on Monday.

The index, which gauges manufacturing activity in Africa’s most industrialised economy, slipped to 45.4 in May from 47.2 in April, below the 50 mark that separates contraction from expansion.

Reporting by Alexander Winning, editing by Larry King

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