The drop in the selling prices of domestic intermediate products will put a further strain on companies in the metals and engineering (M&E) sector, given the direct implications of these prices on their margins and profits, says Steel and Engineering Industries Federation of Southern Africa (Seifsa). Responding to the producer price index (PPI) published by Statistics South Africa on July 30, Siefsa chief economist Dr Michael Ade says the PPI reflects a slowdown in selling price inflation of goods manufacturing by the M&E cluster of industries for June, compared with May.
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