By Reuters
South African manufacturing activity fell for the second month in a row in December, a local purchasing managers’ index (PMI) survey showed, as demand declined.
The seasonally-adjusted PMI sponsored by South African bank Absa slipped to 46.2 points in December 2024 from 48.1 points in November, remaining below the 50-point mark that separates expansion from contraction of manufacturing output in Africa’s most industrialised economy.
“The manufacturing sector experienced a volatile 2024, with this second consecutive monthly decline in December reversing the upward momentum seen in September and October,” Absa said in a statement.
The business activity index fell 8.7 points to 40.3, and the new sales orders sub-index also fell.
“Worryingly, some respondents noted that conditions in December 2024 were worse than usually seen in December,” Absa added.
But the bank said the sub-index which measures expected business conditions in six months’ time rose in December, showing that
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