https://www.engineeringnews.co.za

Easing lockdown lifts South Africa's Absa PMI in June

1st July 2020

By: Reuters

  

Font size: - +

South Africa's seasonally-adjusted Absa Purchasing Managers' Index (PMI) expanded in June as an easing of coronavirus restrictions lifted business activity and sales.

The index, which gauges manufacturing activity in Africa's most industrialised economy, rose to 53.9 points in June from 50.2 points in May.

Despite the uptick, many respondents reported that production levels remained below normal capacity.

"The further rise in June merely means that a solid month-on-month increase was likely recorded," analysts at Absa said of the survey.

"Indeed, continued restrictions in some non-manufacturing sectors of the economy (for example the hospitality industry) still weighed on demand and limited the need to ramp up production."

South Africa imposed a strict lockdown in late March to curb the spread of the coronavirus but has since eased some of the restrictions. From June 1, much of the economy was allowed to return to full capacity.

The improvement in the Absa PMI came a day after data showed first quarter gross domestic product contracted again, with the slowdown stretching back to mid-2019, before the coronavirus struck.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.047 1.008s - 122pq - 2rq
Subscribe Now