Sharp fall in manufacturing activity shows concern about stagflation
Absa says Reserve Bank is not in a good position to push up interest rates to fight inflation without adverse effects
03 May 2022 - 12:16
UPDATED 03 May 2022 - 19:20
Manufacturing activity fell sharply in April, reflecting the extent to which KwaZulu-Natal flooding forced facilities in several subsectors to temporarily halt production, an industry survey showed on Tuesday.
The April number was also affected by a weaker global economy resulting in reduced demand for SA exports, a further rise in domestic input cost pressures and the Ukraine war’s effects. These factors are likely to go on affecting manufacturing activity in coming months...
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