Factory conditions signal waning recovery after post-lockdown surge
Despite expansion, the slowdown in the Absa PMI points to cooling activity
01 December 2020 - 11:44
UPDATED 01 December 2020 - 19:19
Business conditions in the manufacturing sector dropped off in November, with sentiment falling to a four-month low, suggesting that the recovery is losing steam after a surge in the wake of measures to open up the economy.
The Absa purchasing managers index (PMI) — released with Stellenbosch University’s Bureau for Economic Research — fell to 52.6 in November, down from 60.9 in October, the bank said on Tuesday. While above the 50 level that separates contraction and expansion, it was a sharp drop from October and much lower than the 60 predicted by economists in a Bloomberg survey...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.