According to a survey, growth in the manufacturing industry slowed sharply in November due largely to the strength of the rand and also a slowing global economy.

The latest Investec Purchasing Managers' Index (PMI) fell sharply and unexpectedly to 50 in November from 54.1 in October and 55.7 in September.

The fourth quarter drop comes after an almost eight percent rise in the second quarter, on the back of strong domestic demand and an increase in exports, according to Business Report.

"A reading of 50 suggests a situation of no change in business conditions between October and November, and represents a sharp slowdown in the rate of growth," said Andre Roux, head of fixed income at Investec Asset Management.

Roux added: "The implication is that the manufacturing sector continues to lose out to other sectors of a buoyant domestic economy."

SA COMPANIES & BUSINESS INFO Trying to find your way around South Africa's corporate landscape? Looking for a info on a particular company or sector? After the latest business, financial or market news? Here's a quick directory of links to get you started.

MORE BUSINESS NEWS Cosatu celebrates 20 years Old Mutual changes Skandia offer Imperial announces R150m acquisition Sekunjalo soars on good results Manufacturing falls sharply De Beers to settle US lawsuits Sasol falls despite earnings outlook R7.5m claim against BJM HIV/Aids hitting mine sector hardest Theft costing Spoornet R1.6m a day Economy grows by 4.2 percent R1.5bn water pipeline contract signed Trade unions announce merger deal Naspers reports solid results Saambou trio on trial next year