01.04.202609:30:28UTC+00South Africa Factory Activity Shrinks for 6th Month: Absa

South Africa’s seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose to 49 in March 2026 from 47.4 in February. Despite the improvement, the reading still signalled a sixth consecutive month of contraction in the country’s manufacturing sector. According to Absa, “The PMI results overall suggest South Africa’s manufacturing sector has not yet experienced a significant slowdown due to the US–Israel war against Iran, but price pressures have intensified sharply.”

New orders remained weak, underscoring subdued demand, while slower supplier delivery times pointed to persistent supply chain and logistical bottlenecks. At the same time, input costs were driven higher by a weaker rand and rising international oil prices. Finally, the sub-index measuring expected business conditions recorded its steepest decline on record, highlighting mounting concerns over the impact of the Iran conflict on both costs and demand.