FX.co ★ South Africa Factory Activity Rebounds in September: Absa

The seasonally adjusted Absa Purchasing Managers' Index (PMI) for South Africa increased to 52.2 in September 2025, marking the highest level since October of the previous year. This rise, from 49.5 in August, signals a revival in factory activity, representing only the second instance of growth documented this year. According to Absa, "The recovery has been primarily driven by the domestic market, as global demand continues to face challenges including significant US tariffs, a complex trading environment, and persistent issues at South African ports." Both the business activity and new sales orders sub-indices experienced substantial growth, indicative of the resurgence in local demand. However, respondents reported slower delivery times due to logistical hurdles, such as delays in export documentation. Additionally, the index measuring anticipated business conditions six months into the future dropped sharply, highlighting increased uncertainty concerning the short-term outlook owing to global economic challenges.