South Africa PMI May 2017

South Africa

South Africa: Expansion in manufacturing PMI slows down in May

June 1, 2017

Business activity in South Africa’s private sector expanded for a ninth consecutive month in May, which is the longest sequence of positive readings in five years. The Standard Bank Purchasing Managers’ Index (PMI) inched down from 50.3 in April to 50.2 in May, remaining just above the 50-mark, signaling the weakest expansion in South Africa’s business activity in nine months.

May’s print reflected almost stagnant growth in output and new orders. Purchases of inputs by manufacturing firms decreased as overall workloads were broadly unchanged while suppliers’ delivery times lengthened for the fifth consecutive month. Job creation increased for the eleventh month running as good producers hired more staff to accommodate higher volumes of new orders.

FocusEconomics Consensus Forecast panelists see investment falling 2.0% in 2017, which is down 1.2 percentage points from last month’s estimate. For 2018, the panel expects investment to increase 1.5%.

Author: Jean-Philippe Pourcelot, Economist

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South Africa PMI Chart

South Africa PMI May 2017 0

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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