Share

PMI dips in June as strikes weigh

Johannesburg - South Africa's private sector contracted slightly in June, a survey showed on Thursday, reflecting the impact of a protracted strike in the mining sector.

The HSBC Purchasing Managers' Index (PMI) edged down to 49.5 in June from 49.7 in May, pointing to a further deterioration in operating conditions for local firms.

The index has now come in below 50 for three consecutive months and averaged 49.5 in the second quarter of 2014.

South Africa's economy shrank in the first three months of the year after a 20-week platinum strike hit mining and manufacturing output, and another job stoppage by metal and engineering workers this week has dealt a new blow.

"The mining strike and weak confidence are among the main drivers of falling demand, with low confidence levels likely to weigh on business and consumer behaviour for some time to come," HSBC economist David Faulkner said.


We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.00
-0.3%
Rand - Pound
24.14
-0.1%
Rand - Euro
20.64
-0.2%
Rand - Aus dollar
12.38
+0.3%
Rand - Yen
0.13
+0.5%
Platinum
910.20
-1.4%
Palladium
1,008.00
-5.4%
Gold
2,157.44
-0.1%
Silver
24.95
-0.4%
Brent Crude
86.89
+1.8%
Top 40
66,252
0.0%
All Share
72,431
0.0%
Resource 10
53,317
0.0%
Industrial 25
100,473
0.0%
Financial 15
16,622
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders