South African Manufacturers’ Sentiment Dips Amid Easing Logistics Woes

South African manufacturers’ sentiment experienced a dip in March, with the Purchasing Managers’ Index dropping to 49.2 from 51.7 in February. This decline was attributed to weaker demand impacting business activity and new sales orders. However, a notable shift in the subset gauging deliveries suggests an improvement in the country’s previously snarled logistics. Absa Group Ltd. reported the setback, noting that analysts had anticipated a more moderate decrease to 51.3. These findings indicate a potential shift in the country’s economic landscape, reflecting evolving logistical conditions and their impact on business operations.