South Africa PMI November 2018

South Africa

South Africa: PMI ticks up in November

December 5, 2018

In November, the Standard Bank Purchasing Managers’ Index (PMI) climbed 1.3 points to 48.2 points, closing in on the 50-point threshold that distinguishes deterioration from improvement in the South African private sector.

November’s reading revealed a more modest deterioration in business conditions, reflected in smaller declines in output and new orders amid tepid demand. Interestingly, employment held steady and helped clear firms’ backlogs of work. Both input- and output-price inflation moderated on weaker fuel-cost pressures. For its part, business confidence ticked down from a month earlier.

FocusEconomics Consensus Forecast panelists see fixed investment expanding 1.86% in 2019, which is down 0.36 percentage points from last month’s forecast. For 2020, the panel expects fixed investment to increase 2.88%.


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South Africa PMI Chart

South Africa PMI November 2018

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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