Ina Opperman
Business Journalist
2 minute read
15 Sep 2021
3:36 pm

Manufacturer confidence down, but still above 2019 and 2020 levels – survey

Ina Opperman

As expected, manufacturer confidence decreased in the third quarter, but not as much as was feared.

Image: iStock

Manufacturer confidence decreased due to the impact of the unrest in July and lockdown restrictions, but is still above 2019 and 2020 levels, according to the Q3 Absa Manufacturing Survey. However, these shocks were relatively short-lived and August should see some rebound in output. This is supported by the Absa Manufacturing PMI, which surged from 43.5 in July to 57.9 in August from 43.5 in July, as well as indications from the manufacturing survey. The Bureau for Economic Research (BER) at Stellenbosch University conducted the quarterly survey, which covers about 700 businesspeople in the manufacturing sector, between 11 and 30...