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Financial News: South Africa Factory Sector Decline Slows In October:

South Africa Factory Sector Decline Slows In October: BER

11/01/2019 - 08:21:00 (RTTNews)

(RTTNews) - South Africa's manufacturing shrunk for a third month in October, but at a slower rate, survey data from the Bureau of Economic Research showed on Friday.

The ABSA Purchasing Managers' Index, or PMI, climbed to 48.1 from 45.1 in September, which was revised from 41.6 reported earlier. A reading below 50 suggest contraction in activity.

The PMI reading was last above 50 in July.

The October reading was slightly above the third quarter average of 47.3 and in line with the average of 48.3 recorded during the first nine months of the year, the BER said.

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