Manufacturing activity starts fourth quarter in negative territory
Drop in manufacturing activity corresponds with sustained weak readings on demand
SA’s manufacturing activity made a poor start to the fourth quarter, falling to levels last seen in July when prolonged disruptions on the N3 transport corridor resulted in a temporary shortage of inputs, negatively affecting production.
The Absa purchasing managers’ index (PMI) released on Wednesday, compiled by the Stellenbosch-based Bureau for Economic Research (BER), shows the headline index dropped further to 45.4 index points in October, from an upwardly revised 46.2 during September. This marked its sixth consecutive month in contractionary territory, below the 50-neutral mark...
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