South Africa ABSA PMI Rises In April

(RTTNews) - South Africa's manufacturing decline slowed in April, survey data from the Bureau for Economic Research showed Tuesday.

The Absa PMI rose to 49.8 from 48.1 in March, the BER said. A reading above 50 suggests growth in the sector.

The index had declined both in February and March. A reading below 50 suggests contraction in the sector.

Among the major sub-components, the business activity and new sales orders were lower in April, the survey showed. However, the inventories sub-index showed significant improvement.

Intense load-shedding hurting output and demand remaining under pressure meant the sector experienced another tough month at the start of the second quarter.