PMI increases in March, but manufacturing remains under pressure
Data revealed that the slight improvement mostly reflects ongoing supply disruptions, not stronger demand.
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Data revealed that the slight improvement mostly reflects ongoing supply disruptions, not stronger demand.
Prevailing issues such as shipment delays, localised electricity disruptions, and weak demand continue to hamstring the sector.
South Africa’s manufacturing PMI is still struggling, and although it increased somewhat, it is expected to remain sluggish.
While economists do not expect manufacturing to pick up soon, they point out that pricing is at least positive.
Respondents in the construction activity and S&P PMI surveys were optimistic about the rest of the year for construction as well as business activity.
The manufacturing sector’s performance remains under pressure.