The seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose into expansionary territory in November 2022. The index rose to 52.6 points, up from 50 in October and an average level of 49.6 recorded in the third quarter. Both business activity and new sales orders improved for a second month in a row after both had moved lower during the load-shedding-heavy month of September. New sales order volumes expanded for the first time since May 2022. Even though it improved, the activity index remained stuck just below 50 points, while the employment index also lingered at a much lower level. Continued loadshedding, flooding which caused severe damage in Gauteng and lingering political uncertainty, may affect the December figure negatively.
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