South Africa’s Absa PMI drops in May, what you need to know

JOHANNESBURG (Reuters) – South Africa’s seasonally adjusted Absa Purchasing Managers’ Index (PMI) for May fell as business activity and new sales orders declined, the survey showed on Monday.

The index, which gauges manufacturing activity in Africa’s most industrialised economy, slipped to 45.4 in May from 47.2 in April, below the 50 mark that separates contraction from expansion.

Reporting by Alexander Winning, editing by Larry King

Related Content

Surgo Foundation: Why a young population is Africa’s best defence against coronavirus

Africa’s young population is the best defence against the COVID-19 pandemic, as the COVID-19 mortality rate for key populations has shown age as a factor for hospitalizations. This is according to the latest study by the Africa COVID-19 Community Vulnerability Index; CNBC Africa spoke to Dr. Sema Sgaier, Executive Director at the Surgo Foundation for more.

Professor Shabir Madhi gives update on SA’s first COVID-19 vaccine trials

It’s been almost three weeks since South Africa’s first COVID-19 vaccine trials began, we will be unpacking more on the progress of these trials as well as the latest emerging evidence brought to the attention of the World Health Organization regarding the airborne transmission of COVID-19. Joining CNBC Africa for more is Shabir Madhi, Professor of Vaccinology at the University of Witwatersrand.

FSCA publishes conduct standards for banks

The Financial Sector Conduct Authority has published the Conduct Standard for Banks, which aims to regulate and supervise banking institutions, and to promote the treatment of financial customers. Having successfully undergone the Parliamentary process, the Conduct Standard has been made final. Joining CNBC Africa for this discussion is Kedibone Dikokwe, Divisional Executive, Conduct of Business Supervision at the Financial Services Conduct Authority and Adri Grobler, Manager, Legislation & Regulatory Oversight in the Market Conduct Division at the Banking Association of South Africa.

BFA Asset Management on Angola’s annual budget outlook

Chinese debt relief given to emerging markets that are facing the pressure from the Covid-19 pandemic may pose some threats to countries that already have vast amounts of debt owing to facilities. Joining CNBC Africa to unpack debt relief implications for Angola and Mozambique and as well as the Angolan annual budget outlook is Rui Oliveira, CEO at BFA Asset Management.

Subscribe to our newsletter

Sign up for free newsletters and get more CNBC AFRICA delivered to your inbox

More from CNBC Africa

Up to 50,000 South Africans could die this year of COVID-19

President Ramaphosa also admitted that there was a shortfall of 12000 healthcare workers. Despite this there were 28000 hospital beds as well as 37000 private quarantine beds for those unable to isolate at home, along with 1700 ventilators.

Sudan’s 37 dry years are over for its non-Muslims

Non-Muslims will no longer be criminalised for drinking alcohol in private, Justice Minister Nasredeen Abdulbari told state television. For Muslims, the ban will remain. Offenders are typically flogged under Islamic law.

One of the influential fathers of power in Africa dies aged 90

There is no doubt that his integrity, credibility, drive, inherent humility and care for people, also profoundly helped to motivate Eskom staff during many difficult times.

Building Africa’s Prosperity EP7: Addressing infrastructure challenges in SA’s municipalities

Building Africa's Prosperity places the spotlight on economic growth and filling the infrastructure gap on the African continent. In this episode, CNBC Africa's Chris Bishop and his guests talk about Infrastructure Challenges in Municipalities....

Partner Content

Uber launches its largest region-wide initiative in partnership with Mastercard

Uber, in partnership with Mastercard to provide 120,000 free trips to frontline workers in MEA, including South Africa, Nigeria, Kenya, Ivory Coast...

Maktech’s Godwin Makyao: Now Is A Time of Entrepreneurial Opportunity in East Africa

As an executive decision-maker in both the telecommunications and tourism industries, Godwin Makyao could not have experienced a more diverse set of...

Trending Now

COMMENT: AfCFTA is economic medicine Africa needs to recover from the covid-19 pandemic

he vast market created by AfCFTA will provide an immediate boon to nascent plans being guided by the African CDC, NEPAD and others to produce various critical healthcare items such as pharmaceutical compounds, PPE and ventilators in countries such as Nigeria, South Africa and Kenya.

More than 70 workers test positive for COVID-19 on an English farm

The number of new confirmed COVID-19 cases across Britain each day has been falling from a peak of more than 6,000 in April to 650 in the latest figures released on Sunday, despite wider availability of testing.

African born tycoon Elon Musk Tesla slashes prices as pandemic weighs heavily

The company headed by Elon Musk this month posted a smaller-than-expected fall in car deliveries in the second quarter, resilient results despite the pandemic that hit the global auto industry.

COVID-19: No more booze for now says Ramaphosa

"We have to make sure there are sufficient beds in hospital and they are not occupied by people who have been taking alcohol,"says Ramaphosa.
- Advertisement -