Sharp fall in business activity weighs on Absa PMI

Absa's PMI slipped to 47.3 in July from 47.6 in June. According to the bank, while the decrease is marginal, it does mask substantial changes in some of the major subcomponents like the business activity index, which tanked by almost 11 points. Business Day TV unpacked the print in greater detail with Miyelani Maluleke, Senior Economist at Absa.