The Absa Purchasing Managers’ Index declined by 1.6 index points to 47.6 in June, down from 49.2 in May.
Absa takes the feedback from industry heavyweights and processes all the data to create the index, with 50 representing stability, higher values indicating increased activity, and lower levels meaning decreased activity.According to Absa, a key drag on the sector comes from weak demand, with the new sales orders index edging down once again as the decline in export sales deepened and domestic demand remains under pressure.
“For the full second quarter, the business activity index came in slightly lower than the first-quarter average, but this is solely on account of a high January reading.”
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