WATCH: What lies behind the disappointing PMI numbers
The Absa purchasing managers index fell to 45.4 index points in May from 47.2 points in April, bringing the average for the first two months of the second quarter to 46.3 points, from 47.1 points in the first quarter.
May’s number is only 0.4 index points from a March low of 45 points — when load-shedding was weighing heavily on activity and confidence.
Business Day TV caught up with Absa economist Miyelani Maluleke for a closer look at what the PMI figures suggest for the manufacturing sector.
Absa Economist Miyelani Maluleke talks to Business Day TV about May’s purchasing managers index data
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