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South African manufacturing activity improved in October, but rolling power cuts and a crippling strike at freight rail and ports company Transnet prevented a stronger recovery, a survey showed on Tuesday, 1 November.
Source: Reuters/Siphiwe Sibeko/File Photo
The seasonally-adjusted A…….
South African manufacturing exercise enhanced in October, however rolling power cuts and a crippling strike at freight rail and ports agency Transnet prevented a stronger restoration, a survey conagencyed on Tuesday, 1 November.
Supply: Reuters/Siphiwe Sibeko/File Photograph
The seasonally-adjusted Absa Buying for Managers’ Index (PMI) was at 50.0 factors in October from 48.2 factors in September, hitting the 50-level mark that separates contraction from enlargement.
“Exports remained poor amidst the paralysing Transnet strike By way of the month, whereas worldwide demand is faltering,” Absa said in A press launch.
Staff at state-owned Transnet went on strike for almost two weeks from 6 October,throttling exports from Africa’s most industrialised nation.
PMI respondents said persistent power cuts by Eskom curtailed manufacturing and demand For his or her merchandise.
In October purchasing managers have been at their most pessimistic Regarding the outlook for enterprise since Might 2020, probably reflecting little hope that The power state of affairs will enhance quickly, Absa said.
Electricity outages have reached doc ranges in South Africa this yr.
