The Absa Purchasing Managers’ Index (PMI) rose in November, indicating subdued economic activity in the fourth quarter of the year.
Although the Absa Purchasing Managers’ Index ( PMI ) rose 2.8 index points to 48.2 in November, it still showed subdued economic activity in the fourth quarter of the year. The PMI is an economic activity index based on a survey conducted by the Bureau for Economic Research (BER) and sponsored by Absa among a representative group of purchasing managers in the South African manufacturing sector .
These purchasing managers have to indicate each month whether a particular activity for their company increased, decreased or remained unchanged. According to the BER this was the first increase after two months of a decline in the headline index, although it failed to return to positive terrain. The business activity and new sales orders indices also still point to declining activity and demand, although it was at a slower rate than before. The business activity index rose 5.7 points to 46, while new sales orders booked an even bigger 6.9-point increase in November to 46.6 point
Absa Purchasing Managers’ Index PMI Economic Activity Survey Bureau For Economic Research Manufacturing Sector Decline Business Activity Sales Orders
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