ANOTHER monthly survey‚ released yesterday‚ confirmed the deterioration of operating conditions in the SA manufacturing sector due to a sharp drop in new business.
The HSBC purchasing managers index shows manufacturing output dropped from March’s 50.2 points to 49.4 last month‚ its lowest level since June last year.
This as private sector firms cited a decline in new business and disruptions caused by mining strikes.
The index‚ produced by global research group Markit‚ followed the release of a disappointing Kagiso PMI print on Monday‚ which scored manufacturing activity at 47.4 points last month‚ its lowest level since July 2011. An index level of below 50 suggests a contraction in manufacturing-sector activity. – BDlive