South Africa PMI

South Africa

South Africa: PMI moderates in April

May 6, 2015

The HSBC Purchasing Managers’ Index (PMI) inched down from 51.6 in March to 51.5 in April. Despite the decrease, the index remains above the 50-threshold, which separates expanding from contracting conditions in business activity.

April’s slight moderation came on the back of a decrease in new export orders, which tallied the sharpest drop since August of last year. Nevertheless, output and new orders rose further in April. In addition, HSBS added that, “employment growth accelerated and companies reported spare capacity, signaling scope to deal with higher workloads in coming months.”

FocusEconomics Consensus Forecast panelists see investment rising 3.3% in 2015, which is up 0.1 percentage points from the previous month’s estimate. For 2016, the panel expects industrial production to increase 2.9%.


Author:, Senior Economist

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South Africa PMI Chart


SouthAfrica PMI April 2015 0

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


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