Johannesburg - South Africa’s Purchasing Managers’ Index rose to 53.2 in January, its highest level since June, rebounding from 49.4 in December, sponsors Kagiso Asset Management said on Wednesday.
“The robust increase was largely the result of the seasonally adjusted new sales orders index, which surged by 9 index points to a seven-month peak of 57.3 index points,” Kagiso said.
There was a bit of optimism about the outlook, with expected business conditions index rising by 3.8 points to 65.1.
“The expected business conditions index remains very optimistic and is consistent with the PMI leading indicator that rose above 1 in January,” said Abdul Davids, Head of Research at Kagiso Asset Management.
“The robust increase was largely the result of the seasonally adjusted new sales orders index, which surged by 9 index points to a seven-month peak of 57.3 index points,” Kagiso said.
There was a bit of optimism about the outlook, with expected business conditions index rising by 3.8 points to 65.1.
“The expected business conditions index remains very optimistic and is consistent with the PMI leading indicator that rose above 1 in January,” said Abdul Davids, Head of Research at Kagiso Asset Management.