SA HSBC PMI falls to record low

Comment on this story
IOL economy arrows Filomena Scalise

Johannesburg - Business conditions in South Africa's private sector deteriorated further in July, with HSBC's Purchasing Managers' Index (PMI) falling to a record low of 46.4 in the month, as recent strikes in the mines and metals industries hit demand.

“This highlights the debilitating impact of the four-week metals and engineering strike, the hangover from the five-month platinum strike, and the indirect effects of labour unrest on other sectors in the economy,” HSBC economist David Faulkner said. - Reuters


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.