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.”
Author: Dirina Mançellari, Senior Economist