Amid several supply-side shocks during the month, the seasonally adjusted Absa Purchasing Managers’ Index (PMI) plunged to 43.5 points in July, signalling that the output recovery in the manufacturing sector was set back notably at the start of the third quarter, Absa reports. The PMI is compiled by the Bureau for Economic Research (BER) and sponsored by Absa. It is based on the PMI produced by the Institute for Supply Management in the US.
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