Manufacturing activity posts a sharp increase in February
But overall, factory activity is stuck in a low gear, and not enough jobs are being created
03 March 2024 - 17:33
SA manufacturing activity increased sharply in February, marking renewed expansion in the sector. The sector performed at its strongest since early 2023 — but at just above the 50-neutral mark, the outcome suggests demand for manufactured goods remains weak amid numerous supply-side constraints.
Absa’s purchasing managers’ index (PMI), compiled by the Bureau for Economic Research (BER) in partnership with Absa Bank, rose to 51.7 in February following an extraordinarily steep drop to 43.6 in January...
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