PMI

PMI paints poor picture for manufacturing activity recovery

manufacturing_trouble_100.jpgThe seasonally-adjusted Absa Purchasing Managers' Index (PMI) erased most of last month's gains as it fell to 45.4 index points in May 2019, down from 47.2 index points in April 2019. Barring a drop to 45 index points in March 2019, this is the weakest level since October 2018. The decline brought the average PMI for the first two months of Quarter 2 of 2019 to 46.3 points, below the Quarter 1 of 2019 average of 47.1 points.

"This, unfortunately, does not bode well for a recovery in activity in the manufacturing sector after output declined notably on a quarter-on-quarter basis in Quarter 1", said the Bureau for Economic Research (BER).

PMI indicates manufacturing stabilised in April, but at a depressed level

Headwind_100.jpgThe seasonally-adjusted Purchasing Managers' Index (PMI) rose by 2.2 points to reach 47.2 index points in April. This was the first increase after three months of decline.

Remaining below the neutral 50-point mark, the PMI is more or less in line with the average recorded in Quarter 1 of 2019. "This means that factory conditions stabilised at a fairly depressed level at the start of Quarter 2", said the Bureau for Economic Research (BER) in a statement.

March PMI continues downward trend

PMI.jpgThe seasonally-adjusted Purchasing Managers' Index (PMI) continued downwards to 45 points exactly in March 2019, from 46.2 in February. This was the third consecutive month of decline.

As was the case in February, two of the PMI's major sub-components came in above the 50-point mark, while three were stuck in negative terrain. "However, all but one of the main sub-indices declined compared with February", noted the Bureau for Economic Research (BER).

February 2019 PMI down

Manufacturing_PMI_100.jpgThe seasonally-adjusted Purchasing Managers' Index (PMI) declined to 46.2 index points in February 2019, down from 49.9 in January. "Despite the decline, the average recorded during the first two months of Quarter 1 of 2019 is slightly above the average seen in Quarter 4 of 2018", noted the Bureau for Economic Research (BER) in its February report.

January PMI points to solid start to 2019

PMI_strong_start_200.jpgThe seasonally-adjusted Purchasing Managers' Index (PMI) edged lower to 49.9 index points in January 2019, down from 50.7 in December 2018.

Despite the decline, the index remains 2 points above the average recorded in 2018, which suggests that manufacturing started the year on fairly solid footing.

The performance of the PMI's sub-components was more mixed, with many of the sub-indices declining compared with their December levels.

PMI ends 2018 with its best performance

manu_PMI_100.jpgThe seasonally-adjusted Absa Purchasing Managers' Index (PMI) ended 2018 on a positive note, reaching its best level of the year. The PMI rose from 49.5 in November to 50.7 in December, which is just above the neutral 50-point mark and signals growth in the sector.

The headline PMI was well supported by three of the five sub-components: activity, demand and supplier performance. However, employment moved lower, while the Inventories Index edged back below the neutral 50-point mark, noted the Bureau for Economic Research (BER) in its January report.

November PMI shakes off 3-straight-month decline

PMI_growth.jpgThe seasonally adjusted Absa Purchasing Managers' Index (PMI) rose to 49.5 index points in November from 42.4 in October.

This was the PMI's first increase after three straight months of declines and brought the index to the best level since July 2018.

The improvement was broad-based with four out of the five main subcomponents rising compared with October.

Unchanged PMI dashes hopes that August decline was temporary

Manufacturing_150.jpgThe Purchasing Managers' Index (PMI) remained virtually unchanged at a weak level of 43.2 points in September 2018. "The latest figure dashes any hope that the sharp PMI decline in August was a once-off occurrence", said the Bureau for Economic Research (BER) in its monthly PMI report.

The average level of the PMI in Q3 of 2018 was 46 index points, which is the lowest average since Q3 of 2017 and 3.5 points below the average recorded in Q2 of 2018.

Sharp fall in PMI possibly reflects bleak sentiments around land debate

PMIdown_100.jpgThe seasonally-adjusted Absa Purchasing Managers' Index (PMI) declined to 43.4 points in August from 51.5 points recorded in July. August's level is the lowest recorded in more than a year.

Overall, the average level of the PMI recorded during the first two months of Q3 of 2018 was 47.5, which is below the neutral 50-point mark and two points below the average recorded in Q2 of 2018.

The deterioration was driven by sharp declines in the New Sales Orders Index as well as the Business Activity Index. However, inventories and supplier deliveries came in above the neutral 50-point mark in August, which provided some support to the headline PMI, noted the Bureau for Economic Research (BER).

July PMI reaches 51.5 − manufacturing "off to a good start" in Q3

PMI.jpgThe seasonally-adjusted Absa Purchasing Managers' Index (PMI) rose to 51.5 index points in July, up from 47.9 in June. The current level is comfortably above the neutral 50-point mark and is supported by four out of five key sub-components being in positive terrain.

"This suggests that the manufacturing sector got off to a good start in the first month of Q3 of 2018", said the Bureau for Economic Research, who conducts the survey.

June PMI falls further, dragged by sentiment around expected business conditions

PMI_down_100.jpgThe seasonally-adjusted Absa Purchasing Managers' Index (PMI) fell further below the neutral 50-point mark in June. The index lost 1.9 points to reach 47.9, down from May's 49.8 points. The dip means that the average level recorded during Q2 of 2018 is only 0.3 points above Q1 of 2018's average and still below the key 50-point level. This suggests that the sector is unlikely to stage a solid recovery after output contracted on a quarter-on-quarter basis in Q1 of 2018.

PMI retreats, but Q2 averages higher than Q1

SA_manufacturing.jpgThe seasonally-adjusted Absa Purchasing Managers' Index (PMI) dipped back to just below the neutral 50-point mark in May. The index declined to 49.8 index points, down from 50.9 in April. Despite the fall, the average level of 50.4 points recorded during the first two months of Q2, 2018, is not only above the neutral 50-point mark, but also higher than the 49.2 index points registered in Q1, 2018. This bodes well for a recovery in the manufacturing sector, after manufacturing output contracted on a quarter-on-quarter basis in Q1, 2018.

April PMI rises above Q1 average and exceeds 50-point mark

PMI_growth.jpgThe seasonally-adjusted Absa Purchasing Managers' Index (PMI) erased the losses sustained in March and edged back above the neutral 50-point mark in April. The index rose by 4 points to reach 50.9 index points in April. This is relatively in line with the level recorded in February and above the average recorded during the first three months of the year.

The improvement in the headline PMI was driven by increases in four of the five key sub-components, with only the Supplier Deliveries Index dipping lower compared to March. However, with the exception of the New Sales Orders Index, which is firmly in positive terrain, the other four sub-components remained below the neutral 50-point mark, said the Bureau for Economic Research.

March PMI retreats - stronger rand affecting competitiveness of local goods in international markets

PMI_down.jpgThe seasonally adjusted Purchasing Managers' Index (PMI) retreated below the neutral 50-point mark in March after encouraging improvements during the first two months of 2018. The index shed 3.9 points to reach a level of 46.9 in March, off of February's 50.8 points.

Improved business activity pushes PMI above crucial 50-point mark

PMI_Economy.jpgThe Purchasing Manager's Index (PMI) edged above the neutral 50-point mark for the first time since May 2017. The index rose to 50.8 index points in February, up from 49.9 in January. This means that the average for the first two months of 2018 is slightly above 50, which bodes well for the manufacturing sector.

January PMI rebounds from December fall

PMI_growth.jpgThe Purchasing Managers' Index (PMI) rose to 49.9 index points in January. This is the best reading since May 2017 and the 5-point rise counters the 3.7-point slump experienced in December 2017.


 

 

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