Manufacturing conditions pick up in October
Absa says there are encouraging signs in October’s data, though many are concerned about the prospect of a second wave of Covid-19 cases
Manufacturing activity got a healthy boost in October as the sector recovered further from Covid-19 restrictions, Absa said on Monday.
The Absa purchasing managers’ index (PMI) — released in conjunction with Stellenbosch University’s Bureau for Economic Research — jumped to a historic high, though economists said that rising Covid-19 infections and renewed restrictions amid SA's key trading partners, may weigh on the recovery. ..