February 3, 2020 / 9:18 AM / 18 days ago

South Africa's Absa PMI falls further in January

JOHANNESBURG, Feb 3 (Reuters) - South Africa’s seasonally-adjusted Absa Purchasing Managers’ Index (PMI) slipped deeper into contraction territory in January as employment and inventories fell despite a recovery in new sales orders, the survey showed on Monday.

The index, which gauges manufacturing activity in Africa’s most industrialised economy, fell to 45.2 points in January from 47.1 in December, remaining below the 50-point mark separating contraction from expansion for a sixth straight month. (Reporting by Mfuneko Toyana Editing by Alexander Winning)

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