Manufacturing sentiment sunnier in November but storm clouds lie ahead

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...