Businesses in South Africa hoping for the best in 2024
With ABSA’s PMI rising 2.7 points to 50.9 index points – above the neutral reading of 50 – in Dec, we’re hoping for the best in 2024.
Commenting on the rise in business activity, Absa said: “It could reflect some hope that the worst of the local rail and port challenges will be behind us by mid-2024 and that load-shedding could be less intense than last winter. More subdued inflation and lower borrowing costs (domestically and globally) could also help on the cost front and spur demand”.