South African Factory Sentiment Gains as Rate Cuts Get Under Way
- Purchasing manager’s index rose to 52.8 in September from 43.6
- Business expectations gain to highest level since January 2021
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South African manufacturers’ sentiment improved to a five-month high, amid optimism about better business conditions as central banks at home and abroad began lowering interest rates.
Absa Group Ltd.’s Purchasing Managers’ Index rose to 52.8 in September from 43.6 a month earlier, the Johannesburg-based lender said on Tuesday, though it noted the gauge has been volatile in recent months.