WATCH: How PMI turned around
Absa’s November purchasing managers index (PMI) has hit its highest level in three months.
Four of the five components of the index registered improvements, with new sales orders leading the gains now registering above the neutral 50-point mark at 50.3. The index that tracks expected business conditions in six months’ time registered its first increase since February, but the employment index moved lower.
Absa economist Miyelani Maluleke joined Business Day TV to discuss what the data means for the manufacturing sector and the economy.
Absa economist Miyelani Maluleke talks to Business Day TV about the PMI data and what it means for the manufacturing sector and the economy