Lockdown ravages manufacturing and there is no rapid upturn in sight
Subcomponents of the PMI crashed to record lows in April, pointing to the challenges in restarting the economy, economists say
04 May 2020 - 18:37
As SA entered the first working day of level 4 lockdown, manufacturing data for April revealed the devastation wrought by the full lockdown phase on the country’s economy.
The Absa purchasing managers’ index (PMI) — a monthly gauge of business conditions in the manufacturing sector — is one of the first economic surveys to give a line of sight into the toll taken on business activity due to efforts to slow the spread of coronavirus...
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