The Absa Purchasing Managers’ Index (PMI) for July declined to 51.2 index points, from 53.9 in June, but stayed above the neutral 50-point mark for a third consecutive month. Absa and the Bureau for Economic Research (BER), which compiles the PMI on behalf of Absa, say this suggests that official manufacturing output should still reflect a month-on-month improvement in activity and that levels are stabilising.
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