South Africa PMI May 2019

South Africa

South Africa: Business conditions deteriorate in May

June 12, 2019

In May, the Standard Bank Purchasing Managers’ Index (PMI) fell 1.0 point to 49.3 points. Having fallen below the 50-point threshold, it suggests that private-sector business conditions deteriorated midway through the second quarter.

May’s slump reflected weaker output and a decline in new orders amid South Africa’s general election; purchasing activity fell. Employment, on the other hand, continued to rise on improved short-term sales expectations.

FocusEconomics Consensus Forecast panelists see fixed investment expanding 0.40% in 2019, which is down 0.39 percentage points from last month’s forecast. For 2020, the panel sees fixed investment expanding 2.73%.

Author:, Economist

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South Africa PMI Chart

South Africa PMI May 2019

Note: Standard Bank Purchasing Managers’ Index. Readings above 50 indicate an improvement in business conditions while readings below 50 point to a deterioration.
Source: Standard Bank.

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