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Seifsa welcomes improvement in PMI, despite it remaining below the 50 point mark

Creamer Media Senior Deputy Editor
While the Absa Purchasing Managers' Index (PMI) still trended below the neutral level of 50 for the sixth consecutive month during November, it has consistently shown improvement for four successive months from August to November. The Steel and Engineering Industries Federation of Southern Africa (Seifsa) chief economist Michael Ade on Friday said the latest preliminary data indicated an improvement in overall business activity in the manufacturing sector.

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