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Manufacturing sales hit all-time record.

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According to data released by Statistics SA earlier this month, in March, South Africa’s manufacturing sector recorded its highest ever level of sales (at current prices). At a value of R249 billion, the March figure was marginally higher than the previous record, set in November last year, but marginally lower when adjusted for inflation.

During the first quarter of 2022, total manufacturing sales amounted to R664 billion (at current prices), eclipsing the sales of the first quarter last year by 11% and confirming the upbeat trend of the Absa/Bureau for Economic Research (BER) purchasing managers’ index (PMI) for manufacturing. The latter has been running above the neutral 50 mark for 19 of the past 20 months – the only exception being the politically motivated unrest in KwaZulu-Natal in July last year.
23 May 2022 5AM English South Africa Business News · Investing

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