Johannesburg - South Africa's purchasing managers' index fell to 49.4 in December from 51.6 in November, pointing to weak factory output, data showed on Wednesday.
The index retreated 2.2 points, dipping back into contraction territory for the first time since August. The figure is likely to disappoint investors poised for a rise in the index.
"The December level was the lowest since August 2011 and may suggest that purchasing managers are not confident of a quick, or robust, return in the demand for factory goods," said Abdul Davids, head of research at survey sponsors Kagiso Asset Management.
The index retreated 2.2 points, dipping back into contraction territory for the first time since August. The figure is likely to disappoint investors poised for a rise in the index.
"The December level was the lowest since August 2011 and may suggest that purchasing managers are not confident of a quick, or robust, return in the demand for factory goods," said Abdul Davids, head of research at survey sponsors Kagiso Asset Management.