PMI hits new low

The Purchasing Managers Index (PMI) fell to its lowest level in more than a year in August, but prospects were still positive, sponsor Investec said. The monthly measure of manufacturing activity dropped to 54,3 from 57,7 in July. Manufacturing has begun to feel the impact of the recent interest rate increases. However, the index remained above 50, which signalled expansion, and the expected business conditions indicator remained strong, pointing to forecasts of growth. - Reuters

The Purchasing Managers Index (PMI) fell to its lowest level in more than a year in August, but prospects were still positive, sponsor Investec said. The monthly measure of manufacturing activity dropped to 54,3 from 57,7 in July. Manufacturing has begun to feel the impact of the recent interest rate increases. However, the index remained above 50, which signalled expansion, and the expected business conditions indicator remained strong, pointing to forecasts of growth. - Reuters

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