Absa PMI back in expansionary territory in Sept

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) increased to 52.8 points in September, putting it back in expansionary territory after having declined to 43.6 points in August. "The PMI (and official manufacturing data) has been volatile in recent months, but it is useful to note that September takes the average PMI for the third quarter to 49.6 points, just below the 50-point mark. This follows average PMIs of 47.9 for the second quarter and 48.2 for the first quarter. This is a positive sign for the sector," Absa points out.