January’s PMI figure of 54.2 was the strongest in 16 months, and points to manufacturing growth of about 5% y/y. Nonetheless, Kagiso, which publishes the data, acknowledged that issues with the seasonal adjustment process may have distorted the figure and that the underlying strength of the sector may be weaker than the PMI number suggests.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services