South African factory activity expands at faster pace in April – PMI

South African private sector activity expanded at its strongest rate in nine years in April, as buoyant customer demand pushed new orders higher and business confidence and employment rose, a survey showed on Wednesday. IHS Markit's Purchasing Managers' Index (PMI) rose to 53.7 in April from 50.3 in March, staying above the 50 level that indicates an expansion.

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