Picture: 123RF/Chalermchai Karasopha
Picture: 123RF/Chalermchai Karasopha

The Absa purchasing managers index edged lower in November.

The index fell to 47.7 points from 48.1, with four of the five subcomponents of the headline PMI recording month-on-month declines.

The slump in business activity dashes the hope for a rebound in the overall index, but industry players are at least less pessimistic about the near term — the index tracking expected business conditions in six months picked up after declining for the past five months.

Absa economist Miyelani Maluleke joined Business Day TV to provide some insight into the data and what it means for the manufacturing industry.

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