MANUFACTURING
The decline in the Absa Purchasing Managers’ Index (PMI) for June is confirmation that the fundamentals of the South African economy are too weak to support the manufacturing sector, the Steel and Engineering Industries Federation of Southern Africa (Seifsa) said in a statement. The PMI dropped to 46.7 index points in June, down from 51.5 in May. Overall, at the present level, the index is indicative of contraction in the manufacturing sector.
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