The seasonally adjusted Absa Purchasing Managers’ Index (PMI) in South Africa fell to 52.6 in October 2024, compared to a revised 53.3 in September. Still, the latest reading pointed to the 2nd consecutive month of expansion in the country's factory activity, and at a modest pace. Business activity rose by 4.1 points to 55.6, indicating stronger production, while new sales orders edged down by 1.4 points to 54.8, and inventories dipped by 1.2 points to 54.6. The employment index gained 0.5 points to 49.4, but remained in contractionary territory. Lastly, the six-month business expectations index fell to 62.7 in October from 70.8 in September but stayed above the long-term average of 61.3. "Local demand is expected to pick up pace as some benefits from the interest rate cut come through with a lag and other windfalls, in the form of lower inflation and a boost from withdrawals following the introduction of the two-pot retirement system, could further lift consumer spending," Absa said. source: Bureau for Economic Research (BER)

Manufacturing PMI in South Africa decreased to 52.60 points in October from 52.80 points in September of 2024. Manufacturing PMI in South Africa averaged 50.83 points from 1999 until 2024, reaching an all time high of 59.99 points in April of 2021 and a record low of 30.88 points in April of 2020. This page provides the latest reported value for - South Africa Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Manufacturing PMI in South Africa decreased to 52.60 points in October from 52.80 points in September of 2024. Manufacturing PMI in South Africa is expected to be 50.80 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa Manufacturing PMI is projected to trend around 52.00 points in 2025 and 52.40 points in 2026, according to our econometric models.




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Car Registrations 34228.00 30218.00 Units Oct 2024
Changes in Inventories 9561.00 3762.00 ZAR Million Jun 2024
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Corruption Rank 83.00 72.00 Dec 2023
Electricity Production 19879.00 20838.00 Gigawatt-hour Sep 2024
Gold Production YoY -3.70 -4.60 percent Sep 2024
Manufacturing Production YoY -0.80 -0.80 percent Sep 2024
Manufacturing Production MoM 0.00 -0.70 percent Sep 2024
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Total New Vehicle Sales 47940.00 44080.00 Units Oct 2024

South Africa Manufacturing PMI
The Absa Manufacturing PMI is a monthly survey of purchasing managers in South Africa's manufacturing sector. The index provides leading indications of business conditions in the sector. A reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally declining.


News Stream
South Africa Factory Activity Sees Expansion for 2nd Month
The seasonally adjusted Absa Purchasing Managers’ Index (PMI) in South Africa fell to 52.6 in October 2024, compared to a revised 53.3 in September. Still, the latest reading pointed to the 2nd consecutive month of expansion in the country's factory activity, and at a modest pace. Business activity rose by 4.1 points to 55.6, indicating stronger production, while new sales orders edged down by 1.4 points to 54.8, and inventories dipped by 1.2 points to 54.6. The employment index gained 0.5 points to 49.4, but remained in contractionary territory. Lastly, the six-month business expectations index fell to 62.7 in October from 70.8 in September but stayed above the long-term average of 61.3. "Local demand is expected to pick up pace as some benefits from the interest rate cut come through with a lag and other windfalls, in the form of lower inflation and a boost from withdrawals following the introduction of the two-pot retirement system, could further lift consumer spending," Absa said.
2024-11-01
South Africa Factory Activity Returns to Growth: Absa
The seasonally adjusted Absa Purchasing Managers’ Index (PMI) in South Africa rose to 52.8 in September 2024, up from 43.6 in the prior month. The latest reading indicated a renewed expansion in the country's factory activity, which was the strongest since April, amid improved demand. "The positive PMI results suggest that the manufacturing sector is stabilizing after a turbulent period, although challenges remain, particularly in employment," Absa said. "Both domestic and export demand showed signs of improvement. On the local consumer front, the recent interest rate cut adds to the expectation of a possible more positive demand story going forward," it noted.
2024-10-01
South Africa Factory Sector Suffers Sharp Contraction in August
The seasonally adjusted Absa Purchasing Managers’ Index (PMI) in South Africa slipped to 43.6 in August 2024, compared to 52.4 in the prior month to signal the steepest contraction in the country's factory activity since January. Many survey respondents noted weaker domestic sales and orders, with export sales also declining due to supply chain issues and poor economic performance in key markets like Europe and China. The business activity subindex dropped by 11.9 points in August to 38.9, while new sales orders decreased to 34.6 points. Additionally, the employment index continued its decline, remaining in contractionary territory for the second consecutive month. The purchasing price index remained relatively unchanged. The index measuring expected business conditions six months ahead fell to 61.3 points in August from 69.4 in July, but it remains relatively high, indicating an anticipated improvement in business conditions in the future.
2024-09-02