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Support for small businesses and manufacturers in the spotlight

Blade Nzimande visits East London tooling hub as key economic data looms

Crucial PMI, vehicle sales, and electricity data to gauge South African industry

1 min read

Science, Technology and Innovation Minister Blade Nzimande is set to visit Walter Sisulu University's Institute for Advanced Tooling in East London on Monday, putting the spotlight on industrial innovation. The visit coincides with a critical week of South African economic data releases, including manufacturing and vehicle sales indicators.

SummaryOpen the quick read
  • Blade Nzimande will inspect Walter Sisulu University's Institute for Advanced Tooling in East London on Monday.
  • The institute aids local manufacturers and small businesses with specialised tooling, training, and technology.
  • Key economic indicators due on Monday include the Absa Manufacturing PMI and October new-vehicle sales numbers.
  • Stats SA will release manufacturing capacity utilisation and electricity generation data on Thursday.
  • The upcoming industry reports arrive amid rising production costs, with manufacturing producer inflation reaching 6.2% in September.
Blade Nzimande
Blade Nzimande Picture: GCIS

Science, Technology and Innovation Minister Blade Nzimande is scheduled to visit Walter Sisulu University's Institute for Advanced Tooling in East London on Monday, bringing a local manufacturing and technology focus to a week of important economic indicators.

The institute supports manufacturers and smaller businesses through specialised tooling, technology and training.

Monday also brings two closely watched indicators: the Absa Manufacturing Purchasing Managers' Index for October and new-vehicle sales figures. The PMI stood at 50.7 in September, while new-vehicle sales reached 61,650.

On Thursday, Statistics SA is due to release manufacturing capacity utilisation figures for large enterprises in August, as well as September electricity generation and distribution data. Both will offer further insight into conditions facing industry.

The releases come against a backdrop of rising production costs.

Stats SA's latest producer price index, released late last week, showed annual inflation for final manufactured goods accelerating to 6.2% in September, from 5% in August. Prices rose by 1% over the month. - DDC