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PMI, weaker rand does not bode well for manufacturing – Seifsa

Creamer Media Senior Deputy Editor
The poor performance of Absa’s July Purchasing Managers’ Index (PMI) and the weakening of the rand will place continued pressure on the manufacturing sector, the Steel and Engineering Industries Federation of Southern Africa (Seifsa) said on Wednesday. The seasonally adjusted Absa PMI declined by a further 3.8 points to 42.9 in July, with all five of the major subindices having declined in July.

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