South Africa PMI January 2019

South Africa

South Africa: Private-sector nearly stable in January

February 5, 2019

In January, the Standard Bank Purchasing Managers’ Index (PMI) climbed 0.6 points to 49.6 points, closing in on the 50-point threshold that distinguishes deterioration from improvement in the South African private sector.

January’s reading revealed a more modest deterioration in business conditions, reflected in smaller declines in output and new orders amid the first uptick in external demand in more than a year. Higher export orders appeared to bolster activity somewhat and, to that point, employment rose marginally. On the other hand, input- and output-price inflation remained moderate. For its part, business confidence edged up to a nine-month high on improved short-term prospects.

FocusEconomics Consensus Forecast panelists see fixed investment expanding 1.60% in 2019, which is unchanged from last month’s forecast. For 2020, the panel expects fixed investment to increase 2.93%.


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