September PMI up, but still subdued

| 0 Comments

 

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.

Of the main subcomponents, the new sales orders index registered its biggest increase in September, rising by 3.1 points to 43.2. While domestic demand conditions likely remained tough, some respondents noted an improvement in exports after a dip in August.

On the back of the uptick in demand, the business activity index also rose in September. The index increased for a second month, up to 42.8 index points from 41.3 in August. Despite the rise in the output index, the employment index fell back to July’s level of 44.1 index points.

The fuel price increase effective at the start of September likely contributed to the 4.2-point increase in the purchasing price index. The Brent crude price also continued to tick up during the month, with the average price being more than $3 (per barrel) higher in September compared with August. While the rand exchange rate was, on average, slightly stronger in September compared with August, it showed renewed weakness during the end of the month.

On a positive note, respondents were more optimistic about future business conditions. The index tracking expected business conditions in six months’ time rose back above the neutral 50-point mark to 52.4 index points. This is the best level since May 2017. The PMI leading indicator, however, remained stuck below one owing to inventories outstripping new sales orders. This usually does not bode well for output growth.

Leave a comment


 

 

Career opportunites

Planner

  • <500 000 Gauteng Operations, Planning & Inventory Supply Chain
Are you looking for new career opportunities as

Procurement Specialist

  • >500 000 Gauteng Procurement Officer / Specialist Strategic Sourcing Supplier / Business Development
As a specialist Supply Chain recruiter, I am

Logistics Controller

  • <500 000 Gauteng Logistics & Warehousing Procurement Officer / Specialist
Seeking dynamic up and coming candidates looking for

Supply Chain Manager

  • >500 000 Permanent Procurement Management Supply Chain Western Cape
As a specialist Supply Chain recruiter, I am

Business Process Specialist

  • <500 000 Gauteng Procurement Consultant Procurement Officer / Specialist Supply Chain
A company within the financial services sector is

LOC Procurement Manager

  • Gauteng Permanent Procurement Management Procurement Officer / Specialist
Your Responsibilities: Job Purpose To be the interface ...More

Account Manager

  • >500 000 Procurement Officer / Specialist Supplier / Business Development Western Cape
Key Performance Areas:• To ensure that all aspects

Consultant

  • >500 000 Gauteng Procurement Consultant Strategic Sourcing Supply Chain
Key Performance Areas:• You'll be concerned primarily with

Commercial Buyer

  • <500 000 Buyer Contracts Procurement Officer / Specialist Western Cape
A well-known Mining company is seeking the services

Technical Buyer

  • <500 000 Buyer Contracts Procurement Officer / Specialist Western Cape
A well-known Mining company is seeking the services

Business Development Executive

  • >500 000 Gauteng Supplier / Business Development
A retail solutions company is seeking a New

Financial Manager

  • >500 000 Contract Operations, Planning & Inventory Procurement Management Western Cape
Looking for an unemployed CA (SA) in Cape

Chief Financial Officer

  • >500 000 Gauteng Operations, Planning & Inventory Procurement Management
An exciting opportunity exists for a CFO with

Procurement Consultant

  • >500 000 Gauteng Procurement Officer / Specialist Strategic Sourcing
Key Performance Areas: A profound knowledge of sourcing

Commodity Specialist: IT

  • >500 000 Commodities Gauteng Procurement Officer / Specialist
Key Performance Areas:• Effectively applies acquired technical/functional skills

Senior Consultant

  • >500 000 Gauteng Projects / Category Management Supplier / Business Development
Key Performance Areas:• Adheres to best practice processes

Logistics Manager

  • >500 000 Gauteng Logistics & Warehousing Operations, Planning & Inventory Procurement Management
Key Performance Areas:• Manage warehousing and distribution 3PL's

Head of Franchise Network

  • >500 000 Contracts Operations, Planning & Inventory Western Cape
The opportunity to work for a multinational retail

National Driver Manager

  • >500 000 Analyst Contracts Logistics & Warehousing Operations, Planning & Inventory Western Cape
The opportunity for an extraordinary individual to join

Commodity Specialist: Industries

  • >500 000 Commodities Gauteng Procurement Officer / Specialist
Key Performance Areas:• Under the guidance of the