Manufacturing contracts for fourth successive month
Respondents surveyed for the Absa purchasing managers’ index (PMI) are the most pessimistic since the hard Covid lockdown in 2020
01 June 2023 - 13:20
Manufacturing activity contracted for a fourth successive month in May as business conditions and sentiment continued to deteriorate amid ongoing power cuts.
The Absa purchasing managers’ index (PMI), compiled by the Bureau for Economic Research at Stellenbosch University, declined to 49.2 points, down from 49.8 points in April, further below the 50-point mark that separates expansion from contraction...
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