FX.co ★ South Africa Factory Activity Falls for 6th Month: Absa

In April 2025, the seasonally adjusted Absa Purchasing Managers' Index (PMI) for South Africa fell to 44.7, down from 48.7 in March. This marks the sixth consecutive month of a downturn in the nation's manufacturing activity and reflects a significant overall decline. Survey participants attributed this to uncertainties related to international trade tensions and domestic political issues. Absa noted that "global tariff developments and the ongoing VAT dispute, alongside public disagreements within the government, likely played a role in dampening sentiment."