The IHS Markit South Africa PMI increased to 48.3 in January of 2020 from 47.6 in the previous month. This was the ninth successive month of contraction in private activity, amid a sharp decline in output to the weakest in the three months and new orders dropped for nineteenth month running. At the same time, employment fell at the fastest pace in nearly two-and-a-half years and new business decreased, as domestic demand remained subdued amid poor economic conditions. Conversely, new export orders rose for the first time since August last year. In terms of prices, input price inflation accelerated at the fastest pace since last June, mainly due to higher prices in staff . Accordingly, output charges increased further. Finally, the outlook for activity among firms strengthened to a seven-month high in January, due to plans to introduce new product and services.
Composite Pmi in South Africa averaged 49.64 points from 2013 until 2020, reaching an all time high of 52.70 points in October of 2014 and a record low of 46.40 points in July of 2014. This page provides - South Africa Composite Pmi- actual values, historical data, forecast, chart, statistics, economic calendar and news. source: Markit Economics
Composite Pmi in South Africa is expected to be 49.00 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 49.60 in 12 months time. In the long-term, the South Africa Standard Bank PMI is projected to trend around 50.20 points in 2021, according to our econometric models.