South African manufacturing activity contracted for the fifth consecutive month in June due to a worsening of business conditions, a survey showed on Monday.
The seasonally-adjusted Absa Purchasing Managers' Index fell to 47.6 points in June from 49.2 points in May, moving further below the 50-point mark that separates expansion from contraction.
"A key drag on the sector seems to come from weak demand, with the new sales orders index edging down once again as the decline in export sales deepened and domestic demand remains under pressure," Absa said in a statement. However, the survey signalled that business conditions will improve by the end of the year, Absa added.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Absa PMI falls to a two-year lowThe seasonally adjusted Absa PMI fell to 47.6 in June from 49.2 points in May
Read more »
Schalk Louw | The JSE is not really South African - what this means for investors | BusinessOPINION | Most of the revenue earned by JSE-listed companies is earned abroad. This has important investment implications, says SchalkLouw. | News24_Business
Read more »
Increase market access so South African citrus can growEnsuring there are enough overseas markets to absorb an increase in exports is critical to job creation and revenue generation, writes Justin Chadwick.
Read more »
Braai prices jump — showing South African food inflation acceleratingThe cost of a basket of goods in Bloomberg’s South African Shisa Nyama Index, designed to show the price of a traditional backyard barbecue in townships and rural areas accelerated to 15% in June from a year earlier.
Read more »
South African virtual private server price showdownMyBroadband compared virtual private server pricing across three tiers from Absolute Hosting, Afrihost, Cybersmart, Domains.co.za, Microsoft Azure, and AWS.
Read more »
South African rand steady in early tradeThe South African rand was little changed in early trade on Monday after weakening last week along with other emerging market currencies.
Read more »