CLOSE X
Advertisement

SA's PMI unchanged at 49.9 in January

Economy

Johannesburg - South Africa's Purchasing Managers' Index was unchanged in January, remaining at its weakest level since April 2013 as business activity and new sales orders weakened, a survey showed on Monday.

Data from the PMI survey sponsor Kagiso Tiso Holdings showed the index started the year at 49.9, its second consecutive month below the 50-point mark.

Share this story
Filomena Scalise

However, manufacturers were optimistic that the weak rand could boost exports.

“Given that local demand is likely to remain relatively weak, manufacturers may be expecting a boost to exports due to improved demand from the Eurozone and a possible competitive edge from the weak rand,” said Abdul Davids, head of research at Kagiso Asset Management. - Reuters

Share this story
Advertisement
X