The seasonally adjusted Absa Purchasing Managers’ Index (PMI) started the year on the back foot and declined further in January, decreasing by 1.9 points to 45.2, the lowest level since September 2019. The performance of the five major subcomponents was mixed, Absa said on Monday, noting that two indices had recovered somewhat from multiyear lows reached in the previous month, while the three other indices declined in January.
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