South Africa's manufacturing PMI rose to 52.4 in July, exiting contraction territory for the first time since April.

South Africa's manufacturing sector saw a significant improvement in July, with the Purchasing Managers' Index (PMI) rising to 52.4 from 45.7 in June. This uptick, attributed to political stability and improved electricity supply, marks the first time since April that the index exited contraction territory. The business activity index jumped 14.5 points to 50.8 in July, supported by new sales orders and supplier performance. The improvements indicate that on-hold orders are now being realized and translated into better activity, with export sales increasing significantly in July.

August 01, 2024
7 Articles

Further Reading