Seifsa welcomes uptick in PMI, but warns that corner not turned yet

The Steel and Engineering Industries Federation of Southern Africa (Seifsa) on Thursday welcomed the slight growth registered in the Purchasing Managers Index (PMI) data for November, notwithstanding the fact that neither the overall nor the activity subindex could break through the neutral 50-point level, indicating a sustained contraction. Seifsa senior economist Tafadzwa Chibanguza said the increase in the overall PMI between October and November reversed the losses recorded in the previous ...