South Africa's Absa PMI rises in June
JOHANNESBURG, July 1 (Reuters) - South Africa's seasonally adjusted Absa Purchasing Managers' Index (PMI) for June rose as business activity and new sales orders edged higher, the survey showed on Monday.
The index, which gauges manufacturing activity in Africa's most industrialised economy, rose to 46.2 in June from 45.4 in May, remaining below the 50 mark that separates contraction from expansion.
"Both the business activity and new sales orders indices edged higher in June, but remained well below the neutral 50-point mark for a respective sixth and fifth consecutive month," Absa said in a statement.
(Reporting by Olivia Kumwenda-Mtambo Editing by Alexander Winning)