South Africa’s seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose to 52.2 in September 2025, the highest since October last year, from 49.5 in August, pointing to a renewed expansion in factory activity. However, this was only the second time this year that growth was recorded. "The domestic market drove the recovery as global demand remained under pressure and is complicated by steep US tariffs, a challenging trading environment, and lingering SA port issues," Absa said. The business activity and new sales orders sub-indices rose strongly, reflecting the rebound in local demand. Meanwhile, respondents noted slower deliveries, caused by logistical obstacles such as export paperwork delays. The measure of expected business conditions six months ahead fell sharply amid growing uncertainty about the near-term outlook given global headwinds.