Economic activity continues to decline

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Very bad news for SA economy as major manufacturing indices fall.
Very bad news for SA economy as major manufacturing indices fall.

BUSINESS

South Africa’s manufacturing sector delivered it first dose of bad economic news this week, as all major indices measuring industrial activity in the country posted a decline.

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) released on Friday, showed that even though the December PMI headline index remained in expansionary territory at 54.1 – above the 50 mark that separates expansion from contraction – it fell 3.1 points from 57.2 in November.

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