Absa has published its latest PMI index for April.
The Absa Purchasing Managers’ Index rose to 49.8 index points in April 2023, up from 48.1 in March.
The index provides monthly feedback from business managers and is determined through surveys conducted with purchasing managers working in the manufacturing sector of the country. Absa said that despite the index improving, it failed to edge back to the neutral 50-point mark as business activity and new sales orders worsened relative to March.
“The underlying survey results suggest that the sector experienced another tough month at the start of the second quarter amid intense load-shedding hurting output and demand remaining under pressure,” said Absa.
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