South African Factory Sentiment Stays Weak in March
South Africa's manufacturing PMI rose to 49.0 in March but stayed below the 50 mark. Sentiment fell as the Iran war fueled supply chain and cost concerns.
Xurve View
Insights:
Xurve View
Manufacturing sentiment in South Africa remained in contraction territory during March, as geopolitical tensions involving Iran began to weigh on business outlooks despite a slight uptick in activity levels. The seasonally-adjusted Purchasing Managers Index (PMI), sponsored by ABSA GROUP LTD, rose to 49.0 points in March from 47.4 in February. While the index showed improvement, it remained below the critical 50.0 threshold that separates expansion from contraction.
