South Africa's private sector activity contracted in October after a strike by its biggest metal-workers union led to a marked slowdown in business activity amid ongoing raw material shortages, a survey showed on Thursday. IHS Markit's Purchasing Manager's Index (PMI) fell to 48.6 in October from 50.7 a month before. In September the PMI was above the 50 point mark that separates expansion from contraction for the first time since June.
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