According to the Bureau for Economic Research (BER) at the University of Stellenbosch, the Absa PMI fell sharply to 50.7 index points in April 2022. This is the lowest level of the PMI since July 2021 when unprecedented looting and rioting shook domestic production and demand—particularly in Gauteng and KwaZulu-Natal (KZN). As was the case then, the latest decline in the headline PMI is due to a sharp drop in the business activity and new sales orders indices.
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