South Africa Composite PMI

Last Release

Jul 31, 2024

Actual

49.3

Units In

Points

49.2

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
53.7 Apr 2021	32.5 May 2020	49.39 Points	2013-2024	Markit Economics

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.

Latest Updates

The S&P Global South Africa PMI fell to 50.6 in October 2024, down from a 13-month high of 51.0 in September, indicating continued but slower private sector growth. Business activity and new orders rose for the second month, driven by improved economic conditions and increased sales. However, the pace of expansion for new orders slowed to a marginal rate, with only two of the four broad sectors reporting sales growth. Despite these operational improvements, firms continued to reduce staffing, extending the current decline to five months. On the pricing front, input costs dropped for the first time in over four years due to lower fuel prices and a stronger rand, causing selling prices to fall at the fastest rate since July 2020. Looking ahead, business confidence improved, bolstered by expectations of reduced load shedding, political stability, and lower interest rates.