Tag: Miyelani Maluleke
The rand is rallying. Eight million people are back at work. Petrol will cost one rand and eighteen cents per litre more from next month and the latest Absa Purchasing Managers Index business activity sub-index rebounded to 43.2 in May after collapsing to an all-time low of 5.1 in April. The magnitude of the increase is surprising, given that most parts of the manufacturing sector could only operate at 30 per cent of employment capacity in May due to lockdown. Miyelani Maluleke, Economist at Absa Corporate and Investment Banking joins CNBC Africa for more.
Miyelani Maluleke an Economist at Absa Corporate and Investment Banking joins CNBC Africa to discuss the economic impact that the national lock-down will have on South Africa and the hardest hit industries being mining and manufacturing.
Absa Purchasing Managers’ Index moved into expansion for the first time in seven months. Higher demand stimulated necessary growth in sales and business activity. Manufacturing activity rose to 52.1 in July from 46.2 in June. Senior Economist at Absa, Miyelani Maluleke, joins CNBC Africa for more.
Statistics South Africa released its first quarter results revealing higher unemployment rate this year. The jobless rate has increased to 27.6 per cent; this is a 0.5 per cent higher than Q4 2018. The unemployment figure has come as no surprise following the sluggish growth of the economy. Joining CNBC Africa to unpack the Q1 unemployment results is Miyelani Maluleke, Macro Economist, Absa.
Absa’s Purchasing Managers Index rose from 45 points to 47.2 points, its highest increase in four months. The Manufacturing activity index is still registering below the 50 point mark which separates contraction from expansion. Joining CNBC Africa to unpack the data is Miyelani Maluleke, Senior Economist, Absa.