The PMI Remains above the Critical Mark

SOUTH AFRICA - Report 01 Jul 2013 by Iraj Abedian
The seasonally adjusted Purchasing Managers’ Index (PMI) nudged up to record 51.6 index points in June compared to 50.4 a month earlier (Graph 1 & Table 1). The modest rise in the headline outcome resulted mainly from monthly increases in the two heaviest weighted sub-components of the PMI – business activity and new sales orders. While the PMI remained above the critical 50 mark for three consecutive months, the readings have been restrained, thereby suggesting sluggishness in the manufacturing sector (see Figure below). Graph 1 Purchasing Managers’ Index Source: BER The new sales orders s...

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