SA Manufacturing Index Drops for Third Consecutive Month
4 April 2019: The Absa Purchasing Managers’ Index (PMI) dropped for a third consecutive month in March, the Bureau for Economic Research (BER) has said in its recent survey.
The seasonally adjusted index, which measures South Africa’s manufacturing activity, fell to 45 points in March from 46.2 in February.
According to Absa the drop was a result of decreased business activity because of power distribution cuts and lower new sales orders.
“It seems to stem from a deterioration in export performance, while domestic demand conditions also remained poor,” said Absa on Monday.
There was also a 5.4-point drop in the employment index, to 42.7 points in March. Source (FTW) https://bit.ly/2CUjpwy