Absa PMI falls to near seven-month low in May

The Absa purchasing managers’ index fell to 45.4 index points in May from 47.2 points in April, bringing the average for the first two months of SA’s second quarter to 46.3 points, below the average 47.1 points in the first.

May's number is only 0.4 index points from a March low of 45 points — when load-shedding was dampening activity and confidence.

Business Day TV caught up with Absa Economist Miyelani Maluleke for a closer look at what the PMI figures suggest for the manufacturing sector.