Worst news this year for major South African employer

• The worst news for a major South African employer is the decline in manufacturers' sentiment to its lowest level in seven months.
• The decline was largely due to concerns over the impact of escalating hostilities in the Middle East on demand, as well as the recent increase in oil prices.
• The decline in sentiment is likely to have implications for the South African economy, with manufacturers remaining cautious about the durability of the recent improvement in activity.