Kagiso Purchasing Managers Index July 2011

01 August 2011
The seasonally adjusted Kagiso PMI declined sharply by 9.7 points to a two-year low of 44.2 index points during July, losing ground for the fourth consecutive month and easing to a level significantly below the latest readings on the global PMI. While the magnitude of the PMI decline is surprising, it can to a degree be explained by prolonged strike activity in the manufacturing sector during July. The impact of the strikes was most visible in the seasonally adjusted business activity index, which plunged by 19.3 index points in July to 35.9 and was by far the PMI sub-index that experienced the biggest decline.

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