South Africas Absa PMI Extends Recovery in October

South Africas seasonallyadjusted Absa Purchasing Managers Index PMI recovered further in October, as some respondents suggested demand was approaching preCOVID lockdown levels and businesses upped their inventories, a survey showed on Monday.

The index, a gauge of manufacturing activity in Africas most industrialised economy, rose to 60.9 points in October from a revised 58.5 points in September, remaining above the 50point mark that separates expansion from contraction.

Reporting by Mfuneko Toyana Editing by Alexander Winning

Source Reuters