Heading for a new normal: Key global manufacturing centres cling to expansionary territory

Latest manufacturing gauges offer cause for cautious optimism because, while the US and China saw headline declines, confidence is reappearing and both remain in expansionary territory. South Africa’s PMI increased, but revealed a softer underbelly. From the US through China to South Africa, January manufacturing activity gauges – arguably the most timeous and eagerly watched manufacturing sector indicators – have all been encouraging despite undershooting expectations in various respects. US and China indices experienced “modest declines”, while South Africa saw a slight increase at a headline level, but underneath were…

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