Absa PMI rises in April as new sales orders recover

South Africa’s seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose in April, swinging back into positive terrain as new sales orders recover from a decline in the prior month, a survey showed on Wednesday. The index, which is compiled by the Bureau for Economic Research and gauges manufacturing activity in Africa’s most industrialised economy, rose to 50.9 in April from 46.9 in March, edging back above the 50 mark that separates expansion from contraction.