
South Africa’s seasonally-adjusted Absa Purchasing Managers’ Index (PMI) recovered further in October, as some respondents suggested demand was approaching pre-COVID lockdown levels and businesses upped their inventories, a survey showed on Monday.
The index, a gauge of manufacturing activity in Africa’s most industrialised economy, rose to 60.9 points in October from a revised 58.5 points in September, remaining above the 50-point mark that separates expansion from contraction.
Reporting by Mfuneko Toyana Editing by Alexander Winning
Source: Reuters
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