WATCH: Why PMI has fallen to its lowest in a decade
Absa economist Miyelani Maluleke talks to Business Day TV about the purchasing managers index data
The Absa purchasing managers index (PMI) registered its second consecutive large decline, falling to its lowest level in 10-years in September.
The drop was led by a sharp decline in new sales orders, purchasing inventories and business activity as worry about local and global growth weakens demand.
The remaining sub-components — employment and supplier deliveries — registered gains.
Absa economist Miyelani Maluleke joined Business Day TV to make sense of the data.
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