Absa PMI remains in contraction

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) fell slightly in September, weighed down by a fall in new sales orders and employment, a survey showed.

The index, compiled by the Bureau for Economic Research, was at 43.2 in September from 43.4 in August, staying below the 50-mark separating contraction from expansion.

The index fell to a 13-month low in August. – Reuters