Absa PMI recovers to 54.8 in May
The seasonally adjusted Absa Purchasing Managers’ Index (PMI) has risen by 4.1 index points to 54.8 in May. Absa expected a month-on-month rebound after the PMI lost more than nine index points in April – coinciding with devastating flooding in KwaZulu-Natal and intense load-shedding across the country.