South Africa Composite PMI

Last Release

Mar 31, 2024

Actual

48.4

Units In

Points

50.8

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	49.38 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 48.4 in March 2024, down from 50.8 in February, indicating a moderate contraction in the country's private sector. New order volumes fell at the sharpest rate in over two years, after signs of stabilization in the prior month. Stronger price pressures, load shedding, drought conditions and wider economic uncertainty contributed to decreased customer demand. Orders from foreign clients, however, fell at the softest rate in eight months. As a result, output saw its swiftest contraction in 2024 so far. In March, there was an acceleration in price pressures, as companies noted increased supplier charges and rising fuel expenses. Consequently, output charge inflation rose to its highest level in five months. Nevertheless, both workforce numbers and inventories continued to expand. Firms also pointed to an easing of supply-side delays, amid reports that the port crisis in Durban was calming down. Lastly, expectations regarding future output weakened.