PMI and its sub-components improved in July but sustainability is in question

The seasonally-adjusted Absa Purchasing Managers’ Index (PMI) measured 52.1 index points in July 2019, up from 46.2 index points in June 2019. This is the first reading above the neutral 50-point mark since December 2018. “The improvement is well-supported by the underlying sub-components, with four of the major five sub-components coming in above the neutral […]