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/ 3 March 2008

PMI falls to four-and-a-half year low

South Africa’s Purchasing Managers Index (PMI) fell to a four-and-a-half year low of 46,4 in February, knocked by slowing demand and a crippling power shortage. The fall in the index, a measure of manufacturing activity, from 52,1 in January reflected lower new sales orders and marked the first decline below the 50 mark, which separates expansion from contraction, since 2003.

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/ 18 February 2008

Wait for the sell-off, then buy bonds

The recent turmoil in financial markets has not been confined to equities. Bonds have been the worst-performing asset class for two years running, returning a dismal 4,2% in 2007. Does this mean the tide is ready to turn, that it can’t get any worse and that investors should pile back into bonds again after two really bad years?

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/ 1 November 2007

PMI jumps to 56,1 as new sales rise

South Africa’s purchasing managers index (PMI) rebounded sharply to 56,1 in October, as robust demand pushed new sales orders up, sponsor Investec said on Thursday. The index, which measures underlying manufacturing activity, leapt from a near two-year low of 51,6 in September and snapped a two-month decline.

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/ 3 September 2007

SA August PMI falls to year low

South Africa’s Purchasing Managers Index (PMI) fell to its lowest level in more than a year in August, but prospects were still positive, sponsor Investec said on Monday. The monthly measure of manufacturing activity dropped to 54,3 from 57,7 in July, largely due to a sharp fall in growth of business activity and slower sales growth.