South Africa PMI March 2019

South Africa

South Africa: Private-sector operating conditions deteriorate in March

April 3, 2019

In March, the Standard Bank Purchasing Managers’ Index (PMI) slid 0.4 points to 48.8 points, landing below the 50-point threshold that distinguishes improvement from deterioration in the South African private sector.

March’s downturn largely reflected a decline in output and new orders. Production fell at the sharpest clip in four months while new orders dipped modestly amid subdued demand conditions. Employment also dropped, albeit slightly, for the first time in six months. For its part, business confidence weakened again in March, falling to a six-month low.

FocusEconomics Consensus Forecast panelists see fixed investment expanding 1.42% in 2019, which is down 0.05 percentage points from last month’s forecast. For 2020, the panel sees fixed investment expanding 2.94%.

Author:, Economist

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South Africa PMI Chart

South Africa PMI March 2019 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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