Manufacturing activity falls to levels last seen during July 2021 riots
The index shows sector continued to contract, falling to 47.3 in July from June’s already low 47.6
Manufacturing activity remained in contractionary territory for a sixth consecutive month in July, falling the most since July 2021 when SA experienced deadly riots and looting that erupted in KwaZulu-Natal and parts of Gauteng sparked by the jailing of former president Jacob Zuma.
The decline in industrial production, captured in Absa’s Purchasing Managers’ Index (PMI) in partnership with Stellenbosch University’s Bureau for Economic Research, shows industrial activity was not only affected by the return of more intensive power cuts, but also by delays in receiving inputs during the transport disruptions on the N3 corridor in that month...
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