South Africa PMI February 2019

South Africa

South Africa: Private-sector output stabilizes in February

March 5, 2019

In February, the Standard Bank Purchasing Managers’ Index (PMI) climbed 0.6 points to 50.2 points, landing above the 50-point threshold that distinguishes improvement from deterioration in the South African private sector for the first time in eight months.

February’s reading reflected a more moderate fall in new orders, as well as stabilizing output on the heels of a seven-month decline. Moreover, employment picked up. For its part, business confidence edged down on concerns over short-term export orders.

FocusEconomics Consensus Forecast panelists see fixed investment expanding 1.49% in 2019, which is up 0.03 percentage points from last month’s forecast. For 2020, the panel sees fixed investment expanding 2.97%.


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South Africa PMI Chart

South Africa PMI February 2019

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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