Business conditions in the private sector improved as lockdown measures eased in June, rising off record lows in the previous month.
Although this was a marked improvement from May — when the index reported the lowest reading on record — the June PMI remained in contraction territory. The series measuring employment in the private sector continued to decline. This is not a good sign for SA, which reported record unemployment levels in the first quarter of this year — before the advent of the first phase of lockdown restrictions that halted most business activity.
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