South?Africa‘s seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose in April, swinging back up in positive terrain as new sales orders endure a decline inside the prior month, a survey showed on Wednesday.
The index, and that is composed by the Bureau for Economic Research and gauges manufacturing activity in?Africa‘s most industrialised economy, rose to 50.9 in April from 46.9 in March, edging back above the 50 mark that separates expansion from contraction.
After growing for that first two months of the year as optimism about the policy and political changes spurred business activity, the PMI fell sharply in March right after a stronger rand currency hurt exports.
Absa said the revolutionary sales order index has since recovered from your sharp decline recorded from the prior month, weighing 56.5 in April from 44.5 in March.
“If demand supports in coming months, activity should go through new sales order index into positive terrain,” Absa said inside a statement.