PMI

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.

PMI sustains rally for 4th consecutive month

PMI_July.jpgThe seasonally adjusted Absa Purchasing Managers' Index (PMI) rose to 48.6 index points in November 2017. This was the fourth consecutive increase and brought the index to its best level since May 2017. However, the PMI remained stuck below the neutral 50-point mark for a sixth straight month, suggesting that the sector still faces headwinds.

October sees 5 major PMI subcomponents increase

PMI_Oct2017.jpgThe seasonally adjusted Absa Purchasing Managers' Index (PMI) continued its upward trend in October 2017, rising by 2.9 points to reach 47.8. This was the third consecutive increase and brought the index to its best level since May 2017. Nonetheless, the PMI remained stuck below the neutral 50-point mark.

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.

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