The seasonally adjusted Kagiso Purchasing Managers’ Index (PMI) has contracted for the fourth consecutive month, signalling the manufacturing sector’s continued subpar performance. However, while the protracted strikes in the platinum mining, steel and engineering sectors had weighed on manufacturing output over the past few months, the industry was expected to recover in the second half of the year as the industrial action ends and production ramps up, said Kagiso Asset Management research head Abdul Davids.
view article