South African Factory Sentiment at Three-Year High

      Absa Group Ltd.’s Purchasing Managers’ Index, compiled by the Bureau for Economic Research, increased to 52.1 from 46.2 in June, the Johannesburg-based lender said in an emailed statement Thursday. That’s the first time since December that the index is above 50, which indicates expansion. The median estimate of 4 economists in a Bloomberg survey was 46.5. (Bloomberg) –The jump to a three-year high in a gauge measuring sentiment in South Africa’s manufacturing industry may not be sustainable. Key Insights The subindex for new-sales orders rose above 50…

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