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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.
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El PMI manufacturero de Sudáfrica cayó a 43,6 en enero, el nivel más bajo desde mayo de 2020 e indica una contracción.