The IHS Markit South Africa PMI went up to 49.4 in September 2020 from 45.3 in the previous month. Still, the latest reading pointed to the 17th successive month of contraction in the South African economic activity albeit at the weakest pace in eleven months, amid the ongoing easing of coronavirus lockdown restrictions. Output and new orders declined at a softer rate amid a pick up in demand as several businesses reopened. Also, export sales fell to the least extent since before the pandemic on the back of an improvement in global activity. At the same time, the job shedding rate eased to a six-month low as some firms increased hiring due to a rise in client orders. On the price front, input price inflation quickened to a five-month high driven by a weaker rand, short supply of materials and higher input demand, and output charges rose for the first time since April. Finally, sentiment improved to its strongest since February.
Composite Pmi in South Africa averaged 48.98 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 October of 2020. source: Markit Economics
Composite Pmi in South Africa is expected to be 47.70 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 49.00 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.