{"id":770302,"date":"2024-05-02T13:00:00","date_gmt":"2024-05-02T11:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=770302"},"modified":"2024-05-02T12:53:26","modified_gmt":"2024-05-02T10:53:26","slug":"bright-spark-for-south-africas-economy","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business-opinion\/770302\/bright-spark-for-south-africas-economy\/","title":{"rendered":"Bright spark for South Africa’s economy"},"content":{"rendered":"\n

South Africa’s manufacturing sector has received a boost following a month of no load shedding in April.<\/p>\n\n\n\n

The latest seasonally adjusted Absa Purchasing Managers\u2019 Index (PMI) for April improved from its below-the-neutral 50-point mark dip in March,<\/p>\n\n\n\n

The PMI rose from 49.2 points in March to 54 in April.<\/p>\n\n\n\n

Absa said that the rebound comes from improved business activity, while better domestic demand led to higher new sales orders. <\/p>\n\n\n\n

“A full month of no load-shedding was likely positive for sustained business activity. In all, the survey results reflect a good start to the second quarter of 2024,” said Absa and the Bureau for Economic Research. <\/p>\n\n\n

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The business activity index improved from 44.5 in March to 57.2 in April, while new sales orders increased from 45.5 to 55.6. <\/p>\n\n\n\n

“Some comments still point to demand remaining sluggish (although the survey outcome suggests it is much better than in March), but more than 30 days of no load-shedding has likely supported business conditions in the factory sector.” <\/p>\n\n\n\n

“In this regard, Eskom has announced that there has been sustained improvement in generation by the coal-fired plants, sufficient emergency reserves, and lower demand for Eskom power.<\/p>\n\n\n\n

“Eskom has, however, cautioned that load-shedding is projected to return in the winter months.” <\/p>\n\n\n\n

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Good news for Eskom and load shedding \u2013 for now<\/a><\/blockquote>