WATCH: How PMI data indicates worst is yet to come
Absa senior economist Miyelani Maluleke and Nampak CEO Erik Smuts talk to Business Day TV about the PMI data
The Absa purchasing managers index (PMI) has registered its worst quarterly performance since 2009. It averaged 45.9 index points in the first quarter, down from 47.6 in the final quarter of 2019, despite the index having improved in March.
The data suggests that the manufacturing sector may be in for even worse times.
Business Day TV spoke to Absa senior economist Miyelani Maluleke and Nampak CEO Erik Smuts about Covid-19’s effect on the sector.
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