Absa PMI falls to a two-year low
The seasonally adjusted Absa PMI fell to 47.6 in June from 49.2 points in May
03 July 2023 - 11:53
UPDATED 03 July 2023 - 17:17
The Absa purchasing managers index (PMI) fell to a two-year low in June even as the electricity supply crunch abated, suggesting tepid demand may also be responsible for the malaise in the manufacturing sector.
All five subcomponents used to calculate the headline PMI fell below the neutral 50-point level, pointing to a worsening of business conditions in the sector. ..
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