Manufacturing struggles continue, but local demand shows signs of recovery
South Africa’s manufacturing sector got off to a weak start in the third quarter, with the Absa Purchasing Managers’ Index (PMI) declining again in July, although improving domestic demand helped boost new orders and supported a modest recovery in factory production.
According to the index, this suggests that the worst of the recent oil price shock has likely passed, barring any further upsurge in global energy costs.
The July PMI noted that improved domestic demand supported an improvement in production, with the business activity index ticking up for a second consecutive month to 48.
This is a summary of the original articles listed below. Always read the source articles for the full context. GhanaSummary does not create or modify the news — we summarise and link to original publishers.
