Q3 Absa Manufacturing Survey shows encouraging results, albeit off a low base

As manufacturers head towards their peak sales season in the fourth quarter, their expected production and sales levels as well as their import and export volumes are more optimistic. This builds on positive readings which indicated a jump in exports during the third quarter, including a 3% net majority of manufacturers reporting higher exports relative to the third quarter of 2022. A weaker currency as well as the lower base due to the KZN floods in 2022 may have contributed to these increases in exports.