The IHS Markit South Africa PMI rose to 44.9 in July of 2020 from 42.5 in the prior month. The reading pointed to the softest contraction in the country's private sector in five months. Output, new orders and employment fell at weaker rates, helped by the further easing in restrictions which allowed some companies to return to work. Purchasing activity continued to fall as new orders remained weak, leading to an eleventh successive monthly reduction in stock levels. Meanwhile, pressures in supply chains softened somewhat. Regarding prices, input costs increased for the first time since April, mainly attributable to rising raw material prices, higher fuel costs and currency weakness. At the same time, output charges were lowered for the third month in a row, in a bid to attract clients. Looking forward, sentiment hit a 4-month high, on hopes of a swift end to the pandemic and an increase in new projects.
Composite Pmi in South Africa averaged 49.02 points from 2013 until 2020, reaching an all time high of 52.70 points in October of 2014 and a record low of 32.50 points in May of 2020. This page provides - South Africa Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa Standard Bank PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Markit Economics
Composite Pmi in South Africa is expected to be 45.00 points 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 48.50 in 12 months time. In the long-term, the South Africa Standard Bank PMI is projected to trend around 49.00 points in 2021 and 49.60 points in 2022, according to our econometric models.