South Africa factory sentiment edges up
South African manufacturing sentiment improved for a second consecutive month in October. The Absa PMI rose to 49.6 points but remained in contraction territory due to weak demand and ongoing logistics hurdles.
Insights:
South Africa's manufacturing sentiment rose for a second consecutive month in October, though structural bottlenecks kept the sector in contraction territory. The seasonally adjusted PMI sponsored by Absa ticked up to 49.6 points from 48.7 in September. The reading remains below the crucial 50-point threshold separating expansion from contraction.
