ABSA May PMI jumps to 7-month high

The ABSA Purchasing Managers' Index rose to 57.8 points in May, the highest it’s been in 7 months. Absa says four of the five subcomponents remained well above the neutral 50-point mark with only the employment index dipping back into negative terrain. Joining CNBC Africa for more is Miyelani Maluleke, Macroeconomist at ABSA Corporate & Investment Banking.