Absa PMI plunges to weakest level in 14 months
Headline PMI suffered a record single month fall of almost 14 points in July, as it slid to 43.5 index points
Conditions in the manufacturing sector fell to a 14-month low in July, highlighting the damaging effect of SA’s stricter lockdown measures and the fallout of the recent violent protests
The Absa purchasing managers’ index (PMI) — one of the first data points to tally the impact of these adverse events on SA’s economy — suffered a record single month decline of almost 14 points in July, as it slid to 43.5 index points, down from 57.4 in June. ..