The IHS Markit South Africa PMI rose to 42.5 in June of 2020 from a record low of 32.5 in May. Output, new orders and export sales declined less, following the relaxation of lockdown measures which allowed several companies to reopen. Employment also fell at a weaker, albeit sharp rate, as a result of subdued demand, lower outstanding work and shorter operating hours at several businesses. Meanwhile, supply chains remained under pressure, as increased border checks and lower staffing weighed on supplier performance. Also, input purchases and stock levels were curbed as firms looked to ease cost pressures. In terms of prices, average input costs ticked down and output prices were reduced for a second month. Looking forward, sentiment improved somewhat, although firms voiced concerns of a lasting impact from the Covid-19 pandemic.
Composite Pmi in South Africa averaged 49.07 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 July 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.