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Improvements in business activity and new sales orders in PMI

Improvements in business activity and new sales orders in the third quarter in the Absa Purchasing Managers’ Index (PMI) puts it back in expansionary territory with a good outlook for another slight expansion for the fourth quarter. The index, compiled by the Bureau for Economic Research (BER) at Stellenbosch University, increased to 52.6 points, up from 50 in October, with an average level of 49.6 recorded in the third quarter. However, next week’s official data on factory production in October, as well as the extent of the impact of the prolonged strike at Transnet, will help to firm up the…

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