South Africa: Manufacturing PMI expands at a softer pace in April
May 5, 2017
Business activity in South Africa’s private sector expanded for an eighth consecutive month in April, which is the longest sequence of positive readings in five years. The Standard Bank Purchasing Managers’ Index (PMI) edged down from 50.7 in March to 50.3 in April, remaining just above the 50-mark, signaling expansion in South Africa’s business activity.
April's reading largely reflects an increase in new work grew for the sixth consecutive month albeit at the slowest speed since November 2016. Purchases of inputs by manufacturing firms increased on the back of higher volume of new work and suppliers delivery times lengthened for the fourth consecutive month. Job creation increased in the surveyed month as good producers hired more staff to accommodate higher volume of new orders.