MANUFACTURING OUTPUT CONTINUES REBOUND
19.01.2010
South Africa's purchasing managers index rose for the fifth month in a row in December as the pace of recovery in the manufacturing sector picked up, data showed on 18 January. The PMI rose to 52.5 in December, from 50.3 in November. The PMI broke above the key 50 mark that indicates expansion in November for the first time in 18 months.
South Africa's manufacturing sector expanded by 7.6% in the third quarter, helping to lift the economy out of its first recession in almost two decades, and the performance of the sector will greatly determine the pace of the broader recovery. Monthly data from Stats SA have indicated the rate of decline in manufacturing output is slowing, in line with expansionary PMI readings. The PMI also showed participants were optimistic on the near-term outlook of the sector, with the expected business conditions sub-index rising to 69.5 in December from 65 in November.
Source: www.timeslive.co.za 2010/01/19
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