The IHS Markit South Africa PMI declined to 47.6 in December of 2019 from 48.6 in the previous month. This was the eight successive month of contraction in private activity and the steepest pace in 14 months, amid a sharp decline in output and further drops in new orders and exports orders attributed to load shedding and poor weather conditions. Consequently, both employment and purchases decreased further. In terms of prices, input price inflation accelerated at a modest pace, mainly due to higher prices in supplier and staff. Accordingly, output charges ticked up. Finally, the outlook for activity among firms strengthened in December, posting a degree of optimism that was slightly stronger than the average for 2019, still remained concerns that weakness in economic conditions will persist. Composite Pmi in South Africa averaged 49.69 from 2013 until 2019, reaching an all time high of 52.70 in October of 2014 and a record low of 46.40 in July of 2014. source: Markit Economics

Composite Pmi in South Africa is expected to be 49.60 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Composite Pmi in South Africa to stand at 49.50 in 12 months time. In the long-term, the South Africa Standard Bank PMI is projected to trend around 50.20 in 2020, according to our econometric models.

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South Africa Standard Bank PMI

Actual Previous Highest Lowest Dates Unit Frequency
47.60 48.60 52.70 46.40 2013 - 2019 points Monthly
SA


News Stream
2019-12-04
South Africa Private Sector Shrinks for 7th Month
The IHS Markit South Africa PMI declined to 48.6 in November of 2019 from 49.4 in the previous month. It was the seventh successive month of contraction in private activity and at the steepest pace since July, as output fell the most in a year, amid a further, though softer, decline in new orders. Consequently, both employment and stocks decreased. In terms of prices, overall input price inflation accelerated to a five-month high, mainly due to higher prices of fuel and metals as well as currency weakness. Accordingly, output charges ticked up. Finally, the outlook for activity among firms was broadly unchanged in November, posting a degree of optimism that was stronger than the average for 2019-to-date but weaker than the series average (since April 2012).

2019-11-05
South Africa Private Sector Shrinks for 6th Month
The IHS Markit South Africa PMI went up to 49.4 in October of 2019 from 49.2 in the previous month. It was the sixth successive month of contraction, as output dropped for sixth month running and new orders fell at fastest pace since July. Also, new export orders declined at the quickest rate since June and purchasing activity was broadly unchanged. On the upside, employment growth strengthened to a 18-month high. In terms of prices, input prices rose at a modest, but quicker, pace which fed through into a moderate uptick in selling charges. Finally, optimism regarding the outlook for activity rose the most since June, on hopes of an improvement in the domestic economy and foreign demand.

2019-10-03
South Africa Private Sector Activity Contracts Further
The IHS Markit South Africa PMI went down to 49.2 in September of 2019 from 49.7 in the previous month. It was the fifth successive month of contraction, as new orders continued to fall in September while both employment and purchasing activity went down. On the price front, input cost inflation slowed to a five-month low while output prices rose at a softer pace. Finally, the outlook for activity remained relatively subdued in September.

2019-09-04
South Africa Private Sector Remains in Contraction
The IHS Markit South Africa PMI went up to 49.7 in August 2019 from 48.4 in the previous month, signalling a fourth successive month of deterioration in business conditions though less marked than in July. This was due in part to softer drops in output and new orders, as well as stabilised employment numbers. Meantime, input buying increased at the fastest pace since June 2018 and supplier delivery times were largely unchanged, after six months of deteriorating performance. In terms of prices, the rate of overall cost inflation slowed to a four-month low, whereas output prices were raised at a quicker pace. Lastly, optimism for future activity remained subdued, mainly reflecting the recent period of poorer economic conditions.

2019-08-05
South Africa Standard Bank PMI at 8-Month Low
The IHS Markit South Africa PMI dropped to 48.4 in July 2019 from 49.7 in the previous month, signalling a third successive month of deterioration in business conditions that was also the sharpest since last November. New orders fell the most in nine months and output shrank for the third month running and at a faster rate than in June. In addition, job numbers decreased at a marginal rate that was nonetheless the joint-fastest in almost two years. On a positive note, cost inflation eased from June's eight-month high as many suppliers reduced their prices. Expectations for future output meanwhile dropped to a four-month low in July, mostly on the back of fewer sales and falling economic sentiment. However, new projects and store openings contributed to a still positive outlook on average.

2019-07-03
South Africa Private Sector Remains Stuck in Contraction
The IHS Markit South Africa rose slightly to 49.7 in June 2019 from 49.3 in the prior month, pointing to a mild deterioration of operating conditions in the South African private sector. New orders fell further which led to a slight decline in output; and employment rose only marginally. Regarding prices, input inflation rose sharply amid the increase in fuel prices across the country, and inflationary effects from electricity bills and a weaker exchange rate owing to poor economic data. Meanwhile, selling charges rose at a moderate pace overall. Looking ahead, sentiment regarding future outlook reached the highest in 15 months, on expectations of better economic conditions as the new government term began.


South Africa Standard Bank PMI
In South Africa, the Standard Bank South Africa Purchasing Managers Index tracks business trends across private sector activity, including mining, manufacturing, services, construction and retail based on data collected from a representative panel of around 400 companies. The index tracks variables such as new orders, output, employment, supplier delivery times, inventories and prices. A reading above 50 indicates expansion in business activity and below 50 indicates that it is generally declining.

South Africa Business Last Previous Highest Lowest Unit
Business Confidence 26.00 21.00 92.00 12.00 points [+]
Manufacturing PMI 47.10 47.70 57.89 38.38 points [+]
Industrial Production -3.60 -0.80 18.50 -23.20 percent [+]
Industrial Production Mom -1.50 2.50 9.10 -8.70 percent [+]
Capacity Utilization 80.40 81.70 86.20 76.90 percent [+]
Changes in Inventories -9526.00 27391.00 66699.00 -59774.00 ZAR Million [+]
Bankruptcies 219.00 178.00 511.00 63.00 Companies [+]
Total Vehicle Sales 41698.00 44670.00 65689.00 18482.00 [+]
Car Registrations 28965.00 31403.00 43659.00 5155.00 [+]
Leading Economic Index 0.70 -0.70 4.70 -3.70 percent [+]
Internet Speed 6736.79 6595.61 6736.79 685.91 KBps [+]
IP Addresses 4274668.00 3727821.00 6727656.00 520279.00 IP [+]
Mining Production -3.10 -2.10 23.20 -17.40 percent [+]
Steel Production 384.90 501.90 885.00 182.00 Thousand Tonnes [+]
Coincident Index 93.10 92.70 141.17 88.12 points [+]
Competitiveness Index 62.44 60.76 62.44 4.31 Points [+]
Competitiveness Rank 60.00 67.00 67.00 35.00 [+]
Composite Pmi 47.60 48.60 52.70 46.40 points [+]
Ease of Doing Business 84.00 82.00 84.00 32.00 [+]
Electricity Production 20653.00 21571.00 23801.00 10439.00 Gigawatt-hour [+]
Corruption Index 43.00 43.00 56.80 41.00 Points [+]
Corruption Rank 73.00 71.00 73.00 23.00 [+]
Gold Production 5.20 -1.40 75.70 -47.10 percent [+]