PMI

September PMI up, but still subdued

 

glass_ceiling.jpgThe seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose by 0.9 index points to 44.9 in September 2017. Despite the second straight improvement, the index remained well below the neutral 50-point mark for a fourth month. Encouragingly, the rise was supported by the key subcomponents, with four out of five increasing compared with August.

August PMI improves from July slump

 

ManufacturingProduction.jpgThe seasonally adjusted Absa Purchasing Managers’ Index (PMI) improved to 44 index points in August, after slumping to its lowest level since 2009 in July (42.9 points). The improvement was broad based, with four of the five major subcomponents increasing in August. However, despite ticking higher, the key sub-indices remained below the neutral 50-point mark. This suggests that the manufacturing sector is still under significant pressure and does not bode well for manufacturing output (and overall GDP) in Q3 2017.

PMI - SA's manufacturing sector performance disappoints

 

PMI_down.jpgThe seasonally adjusted Absa Purchasing Managers’ Index (PMI) had a tough start to Q3 2017, declining by 3.8 points to 42.9 in July. The headline PMI was last at such a depressed level in the second half of 2009 - a period of very weak underlying economic performance. All five of the major PMI sub-indices declined in July.

PMI indicator does not bode well for output growth

PMI_July2017.jpgThe seasonally adjusted Absa’s Purchasing Managers’ Index (PMI) declined from 51.5 index points in May 2017, to 46.6 index points in June 2017. The Bureau of Economic Research (BER) said that “the deterioration was broad-based, with four of the five main subcomponents moving lower, compared with May.” The BER added that “the recent volatility is probably driven – or at least exacerbated – by continued uncertainty about the outlook for the domestic economy.” The uncertainty likely results in more erratic domestic orders, which may filter through to more volatile output patterns on a month-to-month basis.

Manufacturing outlook down as PMI slumps

 

PMI_down.jpgThe seasonally adjusted ABSA Purchasing Managers’ Index (PMI) slumped in April 2017, after a solid performance during Q1 2017. The index fell to 44.7 index points from an average of 51.9 during Q1.

March PMI dips slightly - results compiled before President's cabinet shuffle

 

PMI.jpgThe Purchasing Managers’ Index (PMI) managed to hold on to recent gains and dipped only slightly lower in March 2017. The index declined to 52.2 points from February’s 52.5 points, remaining above the neutral 50-point mark for a third straight month, noted the Bureau for Economic Research (BER).

PMI continues gains in February

 

PMI_July.jpgThe seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose by a further 1.6 points to 52.5 index points in February, after a 4.2-point rise in January. The second consecutive improvement in the PMI and the broad-based nature of the uptick across the key subcomponents is a positive sign that the manufacturing sector started the year on a solid footing, said the Bureau for Economic Research.

January PMI up 4.2 points to 50.9

 

charts_graphs.jpgThe seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose to 50.9 in January 2017, up from 46.7 in December 2016. This was the first time since July 2016 that the index edged above the neutral 50-point mark, suggesting that the manufacturing sector started the year on a relatively solid footing.

December PMI down by 1.6 points

 

DecreasingGraph.jpgThe seasonally adjusted Barclays Purchasing Managers’ Index (PMI) declined to 46.7 index points in December 2016 from 48.3 in November.

PMI up by 2.4 points


ClearSkies.jpgThe Purchasing Managers Index (PMI) reversed October’s losses and rose by 2.4 points to 48.3 index points in November, reports the Bureau for Economic Research.

Despite the improvement, this was the fourth straight month that the index remained below the neutral 50-point mark, suggesting that factory sector output growth remains under pressure.

PMI drops by 2.6 points

 

Graph.jpgThe seasonally adjusted Barclays Purchasing Managers’ Index (PMI) fell by 2.6 index points to 45.9 in October from a downwardly revised 48.5 points in September.

The current level is at its worst since January and well below the neutral 50-point mark, which suggests that the manufacturing sector experienced a lacklustre start to Q4 2016.

PMI up by 3.2 points

 

ClearSkies.jpgThe Purchasing Managers Index (PMI) rose by 3.2 points to reach 49.5 index points in September. However, the September reading, as well as the average for Q3 2016, are below the neutral 50-point mark.

The average reading for Q3 is well below the Q2 average, suggesting a slowdown in actual quarter-on-quarter manufacturing production growth after a solid performance in Q2, notes the Bureau for Economic Research (BER).

PMI down in 2 consecutive months

 

PMI11.jpgThe seasonally adjusted Barclays Purchasing Managers’ index (PMI) declined by 6.2 index points to reach 46.3 in August 2016. The magnitude of the drop was somewhat surprising after the PMI remained above the neutral 50-point mark during the preceding five months, said the Bureau for Economic Research (BER).

PMI down 1.2 points, but began Q3 strong

pmi.jpgThe seasonally adjusted Barclays Purchasing Managers’ Index (PMI) fell by 1.2 index points to 52.5 in July. Despite the slight drop, the current level still signals that the sector experienced a reasonably strong start to Q3 2016 after a robust performance during Q2, reports the Bureau for Economic Research.

The PMI remains in line with recent Eurozone manufacturing PMI readings (a key export market for South-African produced goods). Initial data releases suggest that the Eurozone economy has so far remained relatively resilient after the UK’s brexit vote, which is encouraging for the local sector’s export performance going forward.

Manufacturing optimism - PMI up almost two points

 

PMI_July.jpgManufacturing optimism increased to 53.7 index points in June from 51.9 in May, surprising economists who had expected it to fall to 50.46, a Barclays-sponsored poll of purchasing managers, released on Friday, showed.


June marked the fourth month the purchasing managers index (PMI) remained above 50 points.

PMI recovers to realistic level after April's "overstated high"

 

Falling-sales-graph-e1431345307788.jpg

The Purchasing Managers’ Index (PMI) lost some of the ground it gained in April, falling back to 51.9 index points in May - a decrease of 3 index points from April’s 54.9 index points.

Despite the drop, the headline PMI managed to remain above the neutral 50-point mark for a third straight month. As indicated last month, the size of the relative increase in the headline PMI in April may have overstated actual production growth. The current level is, therefore, likely to be more indicative of conditions in the sector, noted the Economic Research.


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