🪙 Despite a slight improvement in April, the seasonally adjusted Absa Purchasing Managers' Index (PMI) was still impacted by the effects of intense rolling blackouts🔌which hindered output. Full story here ⬇
Weaker demand for final goods or disruptions to the production process due to rolling blackouts could also have resulted in higher inventories of input products. “Indeed, business activity edged lower in April to 47.6 index points. New sales orders moved down more decidedly than output and reached the worst level since September 2022, declining 44.3 from 48.5 in March.
Potential good news for the sector is that reduced pressure on costs can be expected for the rest of the year. After a sharp increase in February, the purchasing price index decreased for a second month in April. The new sales orders index was just below the neutral 50-point mark since the beginning of the year and moved down even further at the start of the second quarter and export sales remained in positive terrain but weakened compared to February and March.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ECONOMIC WEEK AHEAD: New vehicle sales and Absa PMI will be in focusThe Federal Reserve is expected to continue tightening, putting more pressure on the rand
Read more »
South Africa’s economy is getting bogged downNedbank’s latest economic monitor spells bad news for the underlying economic environment.
Read more »
Absa PMI improves but remains in contractionary territoryManufacturing activity picked up slightly in April, though it is still below the 50-point mark that separates expansion from contraction
Read more »
Another tough month for businesses in South AfricaAbsa has published its latest PMI index for April.
Read more »
Down the Gupta rabbit hole: What became of the family's 'economic investments' in SA? | The CitizenTheCitizenNews📰Special series: Part three. A series on how the Gupta brothers have managed to dodge the law and sustain a life of luxury over the last seven years. Full story here➡️
Read more »
Trucks shot at in KZN | The CitizenTruckdrivers🚚Three trucks were shot at in the Durban area on Saturday evening, while one truck was stoned near Mooi River on Sunday, KwaZulu-Natal police said.🚓 Full story here➡️
Read more »