After plunging to an all-time low of a mere 5.1 index points in April, the business activity index of the Absa PMI survey rose sharply to 43.2 index points in May.
The business activity index of the Absa PMI survey crashed to an all-time low of a mere 5.1 index points in April. The decline means that manufacturing output came to a near standstill during the nationwide lockdown, with almost all respondents reporting a decline in activity compared to the previous month. Indeed, many respondents indicated that zero production took place during the lockdown.
We want to assure our customers at Absa that we understand the impact the COVID-19 may have on your financial position, and we want to offer a payment relief during this period.