South Africa’s November PMI bounces back
South African
manufacturing activity swung back into positive territory in November,
as business activity picked up and managers saw conditions improving
further, a survey showed on Wednesday.
Sponsor, Kagiso Securities, said the November Purchasing Managers’ Index (PMI) rose to 52.9 points, from 49.8 in October.
PMI is a leading indicator ahead of official manufacturing activity and most of its sub-indices were above the 50 level.
“Together, business
activity and new sales orders are responsible for 55 percent of the
headline PMI and were mainly responsible for the move to above 50 seen
for the overall index,” Kagiso’s Theo Vorster said.
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