South Africa’s factory sentiment slips back into contraction.
Loading player...
GUEST: Sello Sekele – Economist, ABSA
South Africa’s factory floor is losing rhythm again. The ABSA Purchasing Managers’ Index (PMI) slipped back below the crucial 50-point mark in October, dropping to 49.2 from 50.8 the previous month signalling renewed contraction in the country’s manufacturing activity.
The data paints a picture of fragile recovery and fading confidence: business activity fell sharply, new sales orders declined, and exports continued their seven-month slide weighed down by US trade tariffs and persistent port bottlenecks.
South Africa’s factory floor is losing rhythm again. The ABSA Purchasing Managers’ Index (PMI) slipped back below the crucial 50-point mark in October, dropping to 49.2 from 50.8 the previous month signalling renewed contraction in the country’s manufacturing activity.
The data paints a picture of fragile recovery and fading confidence: business activity fell sharply, new sales orders declined, and exports continued their seven-month slide weighed down by US trade tariffs and persistent port bottlenecks.
