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

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

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

Sign Up for Our Newsletter Daily Update
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.