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Financial News: South Africa ABSA PMI Climbs Further

South Africa ABSA PMI Climbs Further

10/01/2020 - 05:35:00 (RTTNews)

(RTTNews) - South Africa's purchasing managers' index for the manufacturing sector continued to improve in September, survey data showed Thursday. The PMI rose to 58.3 from 57.3 in August. The index is compiled by the Bureau for Economic Research and sponsored by Absa. In July, the reading was 51.2. A reading above 50 suggest growth in the sector.

"The shift to a lower lockdown level mid-month likely drove the further improvement in business conditions in the local manufacturing sector," the BER said.

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