PMI hit hard by KZN flooding and a weaker global economy that is being buffeted by the war in Ukraine
Activity in SA’s manufacturing sector fell sharply in April, reflecting the extent of devastating flooding in parts of KwaZulu-Natal that led to facilities in several manufacturing subsectors being forced to temporarily halt production, an industry survey showed on Tuesday.
The Absa Purchasing Managers’ Index fell to 50.7 index points in April, from 60 points in March — the lowest level since July 2021, when unprecedented looting and rioting shook local production and demand. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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