The lack of load shedding during the month may have supported the slight improvement in sentiment, Absa said.
JOHANNESBURG – South Africa’s seasonally adjusted Absa Purchasing Managers’ Index rose in April, breaking a run of three consecutive months of decline as business activity and new sales orders increased, a survey showed on Thursday.
“The PMI remains below the neutral 50-point mark and is more or less in line with the average recorded in the first quarter of 2019. This means that factory conditions stabilised at a fairly depressed level at the start of the second quarter,” Absa said in a statement.
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