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Why is there an improvement in South Africa for August while global PMI numbers show a decline?

The Absa Purchasing Manager's Index for May picked up to 57.8 points, from 56.2 points recorded in April, but producers are concerned about a third wave and load shedding.

Breaking news in the world of business, markets and money.

Getty Images Manufacturing production declined 3.5% year-on-year in November. The decline can be attributed to the drop in export demand, as many of SA's trading partners have extended lockdowns. The momentum of the recovery in the industry started slowing in the fourth quarter. Manufacturing production decreased by 3.5% in November, on a year-on-year basis - this was expected, as export demand declined during the last quarter of 2020. Statistics South Africa on Tuesday released November's manufacturing data. Investec priced in a tamer decline of -2.2% compared to the -3.5% which was registe...

Getty Images While manufacturing activity increased in October, on a year-on-year basis, production levels are down 3.4%, data from Stats SA shows. According to Stats SA, eight out of 10 manufacturing divisions recorded a slowdown in activity for the year. The category of petroleum, chemical products, rubber and plastic products was the biggest negative contributor, having declined by 6.8%. This was followed by basic iron and steel and metal products which declined 5% and motor vehicles, parts and accessories and transport equipment which declined 6.8%. Wood, wood products, paper, publishing...