Manufacturing business conditions hit 11-year low
The Absa PMI fell to its lowest level since 2009, as the world battles coronavirus implications and SA contends with threats of power cuts
Business conditions in the manufacturing sector fell for the fourth month in a row, reaching their lowest levels since 2009, when SA was grappling with the after effects of the global financial crisis.
The Absa purchasing managers’ index (PMI), hit 44.3 index points in February, its lowest level since August 2009, according to data from the bank on Monday. The decline was broad-based with four of the PMI's subcomponents falling...