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flag South African manufacturing PMI fell to 43.6 in January, the lowest since May 2020 and indicating contraction.

flag South African manufacturing activity experienced a significant slump in January, as the seasonally-adjusted Purchasing Managers' Index (PMI) dropped to 43.6 points from 50.9 in December. flag This marks the lowest level since May 2020 and is below the 50-point mark, which separates expansion from contraction. flag The decline in activity is primarily attributed to a sharp drop in new sales orders, an indicator of demand.

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