Absa PMI ticks up in June

Factory owners experienced an uptick in activity in June, when the seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose to 46.2 index points from 45.4 in May.

The average level for the second quarter was 46.3 points, however, below the level recorded in the first quarter of 2019.

PMI indicators signal a deterioration in operating conditions with manufacturing employment and purchasing activity declining.

Business Day TV caught up with Absa economist Miyelani Maluleke to discuss the print in more detail.
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