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PMI Uptick Signals Robust Q4 Manufacturing

SOUTH AFRICA
MNI (London)
EM BulletHomepagemarkets-real-timeBulletEmerging Markets News

SOUTH AFRICA NOV ABSA MANUF. PMI 52.6 (FCST 50.5); OCT 50.0

  • The South African manufacturing PMI saw a surprise 2.63-point uptick to 52.6 in November, improving for a second consecutive month. As such, a modest expansion is possible for Q4.
  • New orders expanded again, improving further on September's contraction as load-shedding became less severe.
  • Yet sustained improvements in demand will be necessary to see employment lift from contractive territory. Energy supply security is paramount in sustaining production and demand.
  • Easing oil prices helped the largely stable price index, and improvements in the ZAR should underpin softening price pressures into year-end.
  • Focus now turns to Q3 GDP on Tuesday. Of interest will also be October's manufacturing production data due Thursday, which will reflect the extent of disruption caused by Transnet strikes.

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SOUTH AFRICA NOV ABSA MANUF. PMI 52.6 (FCST 50.5); OCT 50.0

  • The South African manufacturing PMI saw a surprise 2.63-point uptick to 52.6 in November, improving for a second consecutive month. As such, a modest expansion is possible for Q4.
  • New orders expanded again, improving further on September's contraction as load-shedding became less severe.
  • Yet sustained improvements in demand will be necessary to see employment lift from contractive territory. Energy supply security is paramount in sustaining production and demand.
  • Easing oil prices helped the largely stable price index, and improvements in the ZAR should underpin softening price pressures into year-end.
  • Focus now turns to Q3 GDP on Tuesday. Of interest will also be October's manufacturing production data due Thursday, which will reflect the extent of disruption caused by Transnet strikes.