Business conditions continue to deteriorate, says Stanbic Report

There has been a slow recovery of business activities amid the coronavirus pandemic after the loosening of lockdown restrictions first announced at the end of May, the Stanbic Purchase Managers Index (PMI) says. The Headline PMI posted in June was 46.5, up from 41.9 in May, but still below 50.0 which signifies a positive outlook. In comparison, the PMI figure for January 2020 reached a high of