Absa PMI rises to 52.4 for July

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) increased by 6.7 points to 52.4 in July, from 45.7 in June. This reflects a solid start to the third quarter following a weak May and June, Absa reports. The survey results show that both domestic and global demand picked up, filtering through to higher activity. The business activity index increased by 14.5 points to 50.8 in July. This was supported by new sales orders rising by a solid 17.5 points to 55.4.