The Absa PMI fell more than expected in January with the subindex tracking expected business conditions sliding to its worst level in over a yearBusiness conditions in the manufacturing sector deteriorated more than anticipated in January, with expectations for the coming months souring to their lowest levels in more than a year, amid uncertainty about load-shedding and the prospects for the global economy.
“Uncertainty about the frequency and severity of load-shedding in future and the strength of the global economy — and thus external demand — likely dimmed prospects,” the bank said., The index tracking employment in the sector slumped to a seasonally adjusted 37.8, the lowest level recorded in almost six years when it hit 37.6, in May 2014
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