Manufacturing sentiment sunnier in November but storm clouds lie ahead
The latest Absa PMI rose to 57.2 points in November, but a new Covid-19 variant is putting a damper on the sector’s outlook
01 December 2021 - 16:03
Manufacturing conditions recovered in November with business activity, new sales orders and employment moving into positive terrain, even as firms negotiated the load-shedding that has plagued SA in recent weeks.
The latest Absa Purchasing Managers’ Index (PMI) — a monthly gauge of sentiment in the manufacturing sector and an early indicator of underlying economic activity — rose to 57.2 points, the highest level for the headline PMI since May, before the third wave of Covid-19 and social unrest sent shock waves through the economy in July...
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