This is the seventh increase in a row - with the PMI rising above the 50 break even level last November- Kagiso PMI.
Kagiso Managers Index rises strongly
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BUSINESS DAY ONLINE
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Published:
2010/03/01 11:49:32 AM
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The seasonally adjusted Kagiso Purchasing Managers Index has risen in February to 60.4 points - the highest level since March 2007.
Kagiso’s statement says the upward trend of the index during the first two months of 2010 points to faster growth in actual factory production at the start of the year.
According to the statement, this suggests that manufacturing in all likelihood remains the key sector driving the overall growth recovery in the first quarter of 2010.
The biggest increases are new sales orders (+13.2 points) and business activity (+9) both of which have risen to highs not seen since 2007.
That’s after manufacturing sector data has been rising since January.