PMI declines to 48.4 points

By Andy Rice 1 July 2010

The Kagiso Purchasing Managers' Index fell to 48.8 points for June - its lowest level since October 2009. A reading above 50 represents expansion, while below 50 signals contraction. Analysts suggest that employee absenteeism during the World Cup is part of the reason for the unexpected drop. Read more: Times Live

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