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South Africa Manufacturing Shrinks For Fourteenth Month

South Africa's manufacturing sector performance was the weakest in over a decade in the first quarter and the sector shrunk for a fourteenth straight month in March, survey data from the Bureau of Economic Research showed on Wednesday.

The seasonally adjusted Absa Purchasing Managers' Index, or PMI, climbed to 48.1 in March from 44.3 in February. A reading below 50 suggests contraction in the sector.

In the first quarter, the PMI averaged 45.9 compared to 47.6 in the fourth quarter of 2019. That was the weakest quarterly performance since 2009, the BER said.

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