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...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now