According to the BER, the seasonally adjusted Absa Purchasing Managers’ Index (PMI) ticked down slightly in March to 48.1 from 48.8 in February. After a solid start to the year, this was the second straight month that the index pointed to a deterioration in business conditions in the manufacturing sector. Still, when considering the performance of the business activity index through the entire first quarter, it suggests that output could improve from the quarterly contraction recorded in the fourth quarter of 2022.
Subscribers to EasyData can download the complete report in PDF format on www.easydata.co.za.