The ABSA Manufacturing PMI for South Africa fell further to 45.0 in March 2019 from 46.2 in the previous month. The reading pointed to the third consecutive contraction in manufacturing activity and the steepest since October. Output, business activity and new sales orders continued to be hit by consecutive days of power cuts. Manufacturing PMI in South Africa averaged 51.02 from 1999 until 2019, reaching an all time high of 60.87 in April of 2002 and a record low of 35.09 in April of 2009.
Manufacturing PMI in South Africa is expected to be 49.00 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Manufacturing PMI in South Africa to stand at 53.00 in 12 months time. In the long-term, the South Africa Manufacturing PMI is projected to trend around 54.00 in 2020, according to our econometric models.