World Markets

South Africa's Absa PMI contracts in August

Credit: REUTERS/© Stringer . / Reuters

South Africa's seasonally adjusted Absa Purchasing Managers' Index (PMI) declined in August, as business activity and new sales orders slumped, a survey showed on Monday.

JOHANNESBURG, Sept 2 (Reuters) - South Africa's seasonally adjusted Absa Purchasing Managers' Index (PMI) declined in August, as business activity and new sales orders slumped, a survey showed on Monday.

The index, which gauges manufacturing activity in Africa's most industrialised economy, fell to 45.7 in August from 52.1 in July, falling below the 50-point mark separating contraction from expansion.

All of the five major subcomponents in the index were below the neutral 50-point mark.

"Respondents continued to be fairly downbeat about exports for a third straight month, while domestic demand likely also weighed on orders," Absa said in a statement.

(Reporting by Olivia Kumwenda-Mtambo)

((Olivia.Kumwenda@thomsonreuters.com; +27 11 595 2817; Reuters Messaging: olivia.kumwenda.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest World Markets Videos

Coronavirus Throws Wrench Into Semiconductor Demand Recovery

Bloomberg's Anand Srinivasan explains how the coronavirus fallout is impacting semiconductor stocks. He speaks with Romaine Bostick and Brooke Sutherland, a Bloomberg Opinion columnist. Sutherland's opinions are her own.

Feb 12, 2020

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More