Worst over for manufacturing sector?

摘要

Manufacturing activity dipped to a record low in March, a benchmark survey has showed, but the decline was small enough to suggest the worst may be over for SA's embattled factories, reports Business Day. The Investec purchasing managers' index (PMI)- a reliable health gauge for the economy's second-biggest sector -slipped to 35,6 from 36 in March. Local manufacturing has been hit hard by the global recession, and contracting for 12 months running, the survey shows. However, business expectations have improved markedly, in line with similar surveys released worldwide in early May. There was also a pick up in activity and sales orders, suggesting that lower interest rates may be starting to buoy domestic demand.