Absa PMI falls on weak demand, but there is optimism that this year will end better than 2022
The seasonally adjusted Absa Purchasing Managers’ Index has declined by 1.6 index points to 47.6 in June, marking the lowest level of the PMI since mid-2021.
This points to worsening business conditions in the sector, Absa explains, highlighting a key drag on sentiment as being weak demand.