The IHS Markit South Africa PMI increased to 50.8 in January of 2021 from 50.2 in December 2020 pointing to the strongest growth in private sector activity since last October, as output grew at the sharpest pace in over four years. Also, new orders continued to rise, supported efforts to fulfill outstanding work. Meanwhile, employment continued to fall, amid efforts by some companies to lower wage costs. Purchasing activity dropped for the second consecutive month, in turn leading to a slight decrease in inventories. On the prices front, input cost inflation accelerated to the fastest since October 2018, due to a rise in prices of raw materials. As a result, output prices rose for the fifth month running, albeit at a slower rate than for input costs. Lastly, business confidence strengthened, amid hopes of an easing in COVID-19 restrictions over the course of 2021. source: Markit Economics
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 IHS Markit PMI - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.
Composite PMI in South Africa is expected to be 49.60 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 IHS Markit PMI is projected to trend around 50.00 points in 2021 and 51.00 points in 2022, according to our econometric models.