South Africa

South Africa PMI March 2023

South Africa: Private-sector conditions deteriorate in March

The S&P Global Purchasing Managers’ index (PMI) fell to 49.7 in March, down from February’s 50.5. As such, the index fell below the 50.0 no-change mark, signaling a deterioration in private-sector operating conditions from the previous month.

March’s downturn largely reflected yet another contraction in output, following some stability in February. The ongoing power-supply crisis continued to weigh on activity. Moreover, new business saw a slight reduction due to stubbornly high inflation dampening client demand. More positively, exports sales rose in March.

Turning to prices, both input expenses and output prices rose at the strongest rates in eight months in March. A weaker rand against the U.S. dollar, continued load shedding and higher wage costs all drove inflation. Lastly, firms’ sentiment improved in March, ending a five-month streak of declining sentiment. Consequently, firms increased headcounts in the month.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest