South Africa PMI October 2016

South Africa

South Africa: PMI remains in expansionary territory in October

November 4, 2016

The Standard Bank Purchasing Managers’ Index (PMI) inched down from 50.7 in September, which had marked the highest level in over a year, to 50.5 in October. Despite the drop, the index remains above the 50-threshold which separates expanding from contracting conditions in business activity.

October’s figure signals an improvement in operating conditions for the second consecutive month, despite the drop in the index, which was caused by a marginal decrease in new businesses. In October, output and employment expanded and companies were in general encouraged to increase buying activity amid signs of rising demand.

FocusEconomics Consensus Forecast panelists see investment falling 2.0% in 2016, which is down 1.2 percentage points from last month’s estimate. For 2017, the panel expects investment to increase 1.5%, which is up 0.2 percentage points from last month’s estimate.

Author:, Senior Economist

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South Africa PMI Chart

SouthAfrica PMI October 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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