Publications
Partners
Johannesburg - Recovery in South Africa's manufacturing sector maintained momentum in March, a key survey showed on Friday.
The purchasing managers' index (PMI) sponsored by Kagiso showed a strong performance, with the index rising to a 13-month high of 57.2 index points.
The PMI has remained above the 50-point mark since the beginning of the year. Figures above 50 indicate growth and below that contraction.
Kagiso said the business activity index rose sharply from 51.6 to 59.7 points.
"The robust rise indicates that March witnessed a ramp-up of manufacturing production, most probably in reaction to previous indications of improved demand conditions," said Kagiso.
The new sales orders index rose to 62 index points, from levels between 59 and 60 for the previous two months.
However, the employment outlook remained weak with the index again indicating contraction.
"Perhaps most disappointing is the employment index which fell back to below the 50 mark to 46.9, indicating that the manufacturing sector shed jobs in March," said Kagiso.
The PMI is a leading indicator of manufacturing activity.
In China, the PMI showed the country's manufacturing sector grew for a 25th straight month, while factory inflation eased .
But British manufacturing activity growth weakened more than expected in March after the inflow of orders slowed sharply, but firms still ramped up prices at a record rate to cover rising costs, its PMI showed.
The purchasing managers' index (PMI) sponsored by Kagiso showed a strong performance, with the index rising to a 13-month high of 57.2 index points.
The PMI has remained above the 50-point mark since the beginning of the year. Figures above 50 indicate growth and below that contraction.
Kagiso said the business activity index rose sharply from 51.6 to 59.7 points.
"The robust rise indicates that March witnessed a ramp-up of manufacturing production, most probably in reaction to previous indications of improved demand conditions," said Kagiso.
The new sales orders index rose to 62 index points, from levels between 59 and 60 for the previous two months.
However, the employment outlook remained weak with the index again indicating contraction.
"Perhaps most disappointing is the employment index which fell back to below the 50 mark to 46.9, indicating that the manufacturing sector shed jobs in March," said Kagiso.
The PMI is a leading indicator of manufacturing activity.
In China, the PMI showed the country's manufacturing sector grew for a 25th straight month, while factory inflation eased .
But British manufacturing activity growth weakened more than expected in March after the inflow of orders slowed sharply, but firms still ramped up prices at a record rate to cover rising costs, its PMI showed.
