Manufacturing sector ticked up slightly in January
Though the headline ABSA PMI was up, business activity remained under pressure from load-shedding and pandemic restrictions
Conditions in the manufacturing sector ticked up marginally in January, even as business activity remained under pressure, weighed down by mid-month load-shedding and ongoing level 3 pandemic restrictions.
The latest Absa purchasing managers’ index (PMI), released in conjunction with the Bureau for Economic Research, rose to 50.9 points in January from December’s 50.3. But business activity in the sector declined for a fourth consecutive month, which points to a further loss in recovery momentum, Absa said in a release on Monday. ..