The Absa Purchasing Managers’ Index (PMI) declined from 52.2 points in June to 47.6 in July, suggesting that the manufacturing sector experienced a tough start to the third quarter following a weak second quarter, Absa says. "This is the first reading below the neutral 50-point threshold since July 2021, when the looting and unrest in KwaZulu-Natal and Gauteng hurt output.
