South African factory activity hits a high.

FACTORY activity surged to its highest level in nearly three years last month. The gauge for manufacturing output, climbed to 60,4 last month from 53,6 in January — well above expectations and its highest since March 2007.

That signals economic growth may have accelerated beyond its already robust pace late last year, and puts the rebound in SA’s second-biggest sector in step with its main trading partners.

It was the fourth successive month the PMI has been above the 50 mark that divides growth from contraction. Manufacturing has been the main driver of SA’s recovery, pushing overall growth up to 3,2% in the fourth quarter of last year from 0,9% in the third quarter. Factory output rose 10,1% in the fourth quarter, its fastest pace since early in 2008.

http://www.businessday.co.za/articles/Content.aspx?id=95052

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