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Job loss fears hit factory indicator

January 17 2013 at 08:00am

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South Africa’s purchasing managers’ index (PMI) unexpectedly fell last month amid concern about rising unemployment, Kagiso Tiso Holdings said yesterday.

The seasonally adjusted PMI dropped to 47.4 from 49.5 in November, Kagiso said.

An index level below 50 indicates a contraction in industrial output.

The median estimate of four economists surveyed by Bloomberg was for the index to rise to 50.2. – Bloomberg


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