Absa PMI tumbles over nine points in April, signalling manufacturing contraction
The Absa Purchasing Managers’ Index, a key gauge of confidence in the manufacturing sector, slid to 50.7 in April from 60 in March. It is the lowest level since July 2021 when the wave of riots and looting smashed the economy and suggests that the manufacturing sector has started the second quarter of this year with a contraction, in part because of KZN’s floods.
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