Factory activity accelerates in March for third consecutive month
The manufacturing sector is showing signs of growth, with Absa’s PMI at a record high, but unemployment remains a concern
01 April 2022 - 11:02
UPDATED 01 April 2022 - 14:15
Activity in SA’s manufacturing sector accelerated in March for a third consecutive month, an indication that the war in Ukraine has failed to derail a recovery from Covid-19 and July’s violent riots, an industry survey showed on Friday.
The seasonally adjusted Absa purchasing managers index (PMI) reached 60 points in March, up from 58.6 in February, its highest print since the series began in 1999, though the survey is an indicator of prevailing trends, not absolute levels of production...
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