Absa PMI rises to 54 in April on the back of improved business activity

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) improved to 54 in April, following a dip to 49.2 – below the neutral 50-point mark – in March, on the back of improved business activity, while better domestic demand filtered through to higher new sales orders. A full month of no loadshedding was likely positive for sustained business activity, says Absa, adding that, in all, the survey results reflect a good start to the second quarter of this year.