Absa PMI records worst reading in a decade
The Absa Purchasing Manger's Index has registered its second consecutive large fall in September, falling to its lowest level in 10-years. The drop was led by a sharp decline in new sales orders, purchasing inventories and business activity as local and global growth fears weaken demand. In the meantime, the remaining two sub-components, employment and supplier deliveries registered gains. Miyelani Maluleke, Economist at Absa joins us to make sense of the dot-plot this data sets for the sector.