Absa PMI improves in May

A significant jump in new sales orders underpinned an improvement in the Absa PMI for May, with the headline PMI rising by 4.1 index points to 54.8. Despite the improvement, Absa has cautioned that the sector could experience an output contraction in the second quarter. Business Day TV unpacked the print with Miyelani Maluleke, Senior Economist at Absa.