South African factory PMI rebounds in September
South African factory sentiment recovered in September following three months of contraction. The Absa PMI rose to 50.7 points driven by a rebound in new sales orders. However lingering logistics hurdles and input cost pressures persisted.
Insights:
South Africa's manufacturing sentiment climbed to 50.7 points in September from 45.8 in August, driven by a rebound in new orders. The move pushes the purchasing managers index back above the expansion threshold for the first time since May. The uptick breaks three consecutive months of contraction for regional producers.
