PMI fall 'a correction'

SOUTH Africa's purchasing managers' index eased to a seasonally adjusted 55,2 in April from 55,6 in March, a survey showed yesterday.

SOUTH Africa's purchasing managers' index eased to a seasonally adjusted 55,2 in April from 55,6 in March, a survey showed yesterday.

Sponsor Kagiso Securities said despite the decline - after another fall in March - PMI remained above the key 50 mark for the sixth month in a row.

"At this stage, we do not view the falls as concerning, but should rather be seen as a correction to a more sustainable level for the PMI," André Coetzee of Kagiso Securities said. - Reuters

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