South Africa Manufacturing PMI

South Africa’s seasonally adjusted Absa Purchasing Managers’ Index (PMI) fell for the second month to 42 in November 2025 from 49.2 in the previous month. The latest reading indicated a second straight month of contraction in the country’s manufacturing sector, worsening from the previous month and marking the sharpest decline since April 2020. Absa said the reading highlights the sector’s fragility, with weak domestic demand, subdued exports, and sluggish output, despite easing cost pressures and early improvements in logistics. The biggest drag were the new sales orders index, which plunged to 35.6 in November from 48.9 in October, pushing the business activity index down to 36.7. Inventories fell to 46.1, the lowest since May, while employment rose slightly but stayed in negative territory. On a brighter note, cost pressures eased, and the expected business conditions index returned to positive territory at 50.8 after two months of pessimism.