South Africa Factory Moods Dims on Mozambique Trade Disruptions
- Purchasing managers’ index fell to 45.3 in January, from 46.2
- PMI below 50 for third straight month, lowest since August
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South Africa’s factory mood fell for the third straight month in January, as business worried about the impact of Mozambique’s post-election unrest on trade, recent jet fuel shortages and the planned closure of ArcelorMittal SA’s longs steel production units.
Absa Group Ltd.’s purchasing managers’ index, compiled by the Bureau for Economic Research, declined to 45.3 from 46.2 in December, the Johannesburg-based lender said Monday in an emailed statement. It was the lowest reading since August.