The S&P Global South Africa PMI edged down to 48.2 in July 2023 from 48.7 in the previous month, and in line with market forecasts. This marked the fifth straight month of contraction and the second-strongest in two years after May's recent nadir, as elevated prices, weak confidence and capacity constraints weighed on overall demand. Firms also reported a lack of orders due to ongoing load shedding, and output subsequently declined at a steep rate. Moreover, employment was cut for the first time since April amid a further drop in new orders. On prices, inflationary pressures remained severe, driven by heightened import costs, higher fuel prices and salary pressures. Businesses also increased their selling prices to a sharp rate, in an attempt to pass on costs to their customers. Nonetheless, firms expressed a positive outlook regarding the business conditions over the next 12 months, with the level of confidence reaching its peak since October 2022, on hopes of economic recovery. source: Markit Economics

Composite PMI in South Africa averaged 49.37 points from 2013 until 2023, reaching an all time high of 53.70 points in April of 2021 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 S&P Global PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Composite PMI in South Africa is expected to be 50.30 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa S&P Global PMI is projected to trend around 52.00 points in 2024 and 51.80 points in 2025, according to our econometric models.

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South Africa S&P Global PMI



Related Last Previous Unit Reference
Composite PMI 48.20 48.70 points Jul 2023

South Africa S&P Global PMI
In South Africa, the IHS Markit 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.
Actual Previous Highest Lowest Dates Unit Frequency
48.20 48.70 53.70 32.50 2013 - 2023 points Monthly
SA

News Stream
South Africa Private Sector Activity Continues to Shrink
The S&P Global South Africa PMI edged down to 48.2 in July 2023 from 48.7 in the previous month, and in line with market forecasts. This marked the fifth straight month of contraction and the second-strongest in two years after May's recent nadir, as elevated prices, weak confidence and capacity constraints weighed on overall demand. Firms also reported a lack of orders due to ongoing load shedding, and output subsequently declined at a steep rate. Moreover, employment was cut for the first time since April amid a further drop in new orders. On prices, inflationary pressures remained severe, driven by heightened import costs, higher fuel prices and salary pressures. Businesses also increased their selling prices to a sharp rate, in an attempt to pass on costs to their customers. Nonetheless, firms expressed a positive outlook regarding the business conditions over the next 12 months, with the level of confidence reaching its peak since October 2022, on hopes of economic recovery.
2023-08-03
South Africa Private Sector Activity Contracts for 4th Month
The S&P Global South Africa PMI edged up to 48.7 in June 2023 from 47.9 in May, still pointing to the fourth consecutive month of contraction. New business intakes fell at a softer pace and firms highlighted that reduced load shedding helped them to increase their working hours and finish some outstanding orders. Improved power supply also contributed to a pick-up in vendor performance, leading to the first reduction in average delivery times since January 2019. On the price front, the uptick in input prices was the slowest in five months, mainly due to weaker rises in purchase prices and staff costs, and reports of lower transport expenses. The uplift in output charges was still steep though, as firms largely chose to pass cost rises to their customers. Looking ahead, business expectations picked up to a 7-month high, with hopes often pinned on an easing of inflation and load shedding, as well as new clients and higher sales.
2023-07-05
South Africa Private Sector Downturn Deepens
The S&P Global South Africa PMI fell to 47.9 in May 2023 from 49.6 in April, pointing to the third consecutive month of contraction in the country's private sector, and one that was the steepest since July 2021. Business activity fell steeply amid a renewed drop in new orders. The industry, construction, wholesale & retail, and services sectors all posted declines as demand was hindered by sustained load shedding and inflationary pressures. Consequently, companies reduced their purchasing activity. On the other hand, employment levels recovered modestly after a slight cut during April. Also, supplier delays were at their lowest since December 2019. On the price front, inflationary pressures remained severe, as firms reported another sharp rise in their output charges in response to substantial increases in cost burdens. Looking ahead, firms remained optimistic about the future, amid hopes of a pick-up in sales despite concerns about the electricity supply.
2023-06-05