It quotes Chris Hart, chief economist at Investment Solutions as saying that this rise in the index is not an indication of the type of growth that is needed in South Africa.
According to Mail & Guardian, Hart predicts that manufacturers will continue to struggle for the medium-term particularly as Europe attempts to steady is finances. He says that sluggish growth in the South African economy, coupled with above-inflation-rate wage increases will place additional stresses on the country's recovery.
Hart says that traditionally the PMI rises in the third quarter as manufacturers gear up for the festive season buying spree.
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