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Financial News: South Africa Manufacturing Growth Improves For Third Month

South Africa Manufacturing Growth Improves For Third Month

04/01/2021 - 07:16:00 (RTTNews)

(RTTNews) - South Africa's manufacturing sector expanded at a faster pace for a third successive month, survey data from the Bureau for Economic Research showed Thursday.

The seasonally adjusted Absa Purchasing Managers' Index, or PMI, rose to 57.4 points in March from 53 in the previous month.

The increase was driven by an improvement in all five sub-components relative to February, the think tank said.

Only the employment index remained stuck below the 50-point mark that separates growth from contraction.

Meanwhile, the other four key sub-indices pointed to an expansion.

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