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South Africa's Absa PMI drops to 14-month low in July

08/02/2021 | 05:36am EDT

JOHANNESBURG (Reuters) - South Africa's seasonally-adjusted Absa Purchasing Managers' Index (PMI) tumbled to a 14-month low in July, weighed down by tighter coronavirus lockdown restrictions and civil unrest in some parts of the country, a survey showed on Monday.

The index, a gauge of manufacturing activity in Africa's most industrialised economy, fell to 43.5 points in July from 57.4 points in June, dropping below the 50-point mark that separates expansion from contraction.

The July PMI reading was the lowest since May 2020, Absa said in a statement.

(Reporting by Olivia Kumwenda-Mtambo; Editing by Promit Mukherjee)


ę Reuters 2021
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