RE­COV­ERY FOR MAN­U­FAC­TUR­ING?

Finweek English Edition - - THE WEEK -

The Bar­clays Pur­chas­ing Man­agers’ In­dex (PMI) for April saw a jump from 50.5 in March to 54.9, the high­est read­ing since Au­gust 2013 and a long way from Novem­ber 2015’s six-year low of 43.3. The Bu­reau for Eco­nomic Re­search (BER), which com­piles the data, said it was an in­crease in im­port sub­sti­tu­tion and im­proved ex­port de­mand of late, which ben­e­fit­ted lo­cal man­u­fac­tur­ers. NKC African Eco­nomics said while it is still early days, the fact that all five of the PMI’s com­po­nents are now in ex­pan­sion­ary ter­ri­tory – for the first time since 2013 – sug­gests that the tide is turn­ing for lo­cal pro­duc­ers.

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