FX.co ★ South Africa ABSA PMI Rises In April

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.