South Africa PMI January 2016

South Africa

South Africa: PMI improves slightly in January

February 3, 2016

The Standard Bank Purchasing Managers’ Index (PMI) rose from 49.1 in December to 49.6 in January. As a result of the increase, the index is now closer to the 50-threshold, which separates expanding from contracting conditions in business activity.

January’s improvement mainly reflected that output in the private sector dropped at a weaker rate compared to the previous month. Moreover, employment decreased at a marginal rate in January. Analysts added that, “we expect the weak currency will start to have a positive effect on those industries which are import substituting, and may result in the PMI gaining ground later in the year.”

FocusEconomics Consensus Forecast panelists see investment rising 2.0% in 2016, which is unchanged from the previous month’s estimate. For 2017, the panel expects industrial production to increase 1.6%.

Author:, Senior Economist

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South Africa PMI Chart

SouthAfrica PMI January 2016 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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