https://newsletter.en.creamermedia.com

Absa PMI falls further to 42.9 in July

1st August 2017

     

Font size: - +

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) declined by a further 3.8 points to 42.9 in July, with all five of the major subindices having declined in July.

The seasonally adjusted business activity index was under the most pressure, declining by 6.1 index points to 39.3. The significant decline was on the back of an even steeper fall in June.

The weak activity levels in July were in line with the prevailing soft demand conditions in South Africa. This was reflected in the further easing of the new sales orders index, which fell by almost four points to 39.8 in July.

The weak demand and output conditions spilled over to the factory sector job market, with the employment index losing three index points to 44.1.

After a sharp downscaling of business expectations for the next six months in June, purchasing managers remained downbeat about business prospects in July, albeit slightly less so.

The Bureau for Economic Research, which compiles the PMI on behalf of Absa, commented that the marginal 25 basis points reduction in the repo rate during July may provide some boost to demand on the margin, but warned that the manufacturing sector continues to face a number of headwinds, including the possibility of an extended strike in the metals and engineering industry.

Edited by Creamer Media Reporter

Comments

Showroom

Actom image
Actom

Your one-stop global energy-solution partner

VISIT SHOWROOM 
BOVA Safety Wear
BOVA Safety Wear

BOVA cemented their reputation in Africa by delivering high quality engineering through their range of safety footwear. 21 years after producing...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (08/11/2024)
8th November 2024 By: Martin Creamer
Magazine round up | 08 November 2024
Magazine round up | 08 November 2024
8th November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.27 0.378s - 198pq - 2rq
Subscribe Now