WATCH: Absa PMI sinks deeper into contraction territory in May
Business Day TV talks to Miyelani Maluleke, senior economist at Absa
01 June 2023 - 17:57
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A worker drives a forklift to transport a crate of aluminium cans in the warehouse of a manufacturing plant in Springs, Gauteng. Picture: BLOOMBERG/WALDO SWIEGERS
The Absa purchasing managers’ index (PMI) dip to 49.2 in May from 49.8 the previous month shows the index is slowly sinking deeper into contractionary territory. This is due to the notable deterioration of business conditions over the past four months.
Absa said it had estimated load-shedding of 2,940GWh in April compared with 2,075GWh in March, suggesting further declines in available power in the months ahead, raising pressure on businesses.
Miyelani Maluleke, a senior economist at Absa, unpacked the details of the print with Business Day TV.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
NEWS LEADER
WATCH: Absa PMI sinks deeper into contraction territory in May
Business Day TV talks to Miyelani Maluleke, senior economist at Absa
The Absa purchasing managers’ index (PMI) dip to 49.2 in May from 49.8 the previous month shows the index is slowly sinking deeper into contractionary territory. This is due to the notable deterioration of business conditions over the past four months.
Absa said it had estimated load-shedding of 2,940GWh in April compared with 2,075GWh in March, suggesting further declines in available power in the months ahead, raising pressure on businesses.
Miyelani Maluleke, a senior economist at Absa, unpacked the details of the print with Business Day TV.
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