FX.co ★ South Africa's PMI Shows Expansion in February

South Africa's Purchasing Managers' Index (PMI) data was updated on March 5, 2024, revealing a positive change from January to February. In January 2024, the PMI indicator stood at 49.2. However, in February 2024, the latest PMI figures show an increase to 50.8, indicating expansion in the country's manufacturing sector. This improvement suggests an increase in manufacturing activity and overall economic growth prospects for South Africa. The rise in PMI is a positive sign for the South African economy as it navigates through various challenges and strives for economic recovery and stability.