South African manufacturing PMI fell to 43.6 in January, the lowest since May 2020 and indicating contraction.

South African manufacturing activity experienced a significant slump in January, as the seasonally-adjusted Purchasing Managers' Index (PMI) dropped to 43.6 points from 50.9 in December. This marks the lowest level since May 2020 and is below the 50-point mark, which separates expansion from contraction. The decline in activity is primarily attributed to a sharp drop in new sales orders, an indicator of demand.

January 31, 2024
46 Articles