After ending the third quarter on a downbeat note, the Absa Purchasing Managers’ Index (PMI) also had a poor start to the fourth quarter. The headline index dropped further to 45.4 index points in October, from an upwardly revised 46.21 during September. In terms of the major subindices of the headline PMI, the biggest drag …
Conditions in the SA manufacturing sector deteriorated at the end of the third quarter. This is according to the seasonally adjusted Absa Purchasing Managers’ Index (PMI), which declined by 4.3 points in September to 45.4. The soft reading for the headline PMI was driven by very weak demand and constrained production. In terms of the former, September saw …
Absa Purchasing Managers’ Index (PMI) September 2023 Read More »
The seasonally adjusted Absa Purchasing Managers’ Index (PMI) improved somewhat in August, rising by 2.4 points to 49.7, i.e., to just below the key 50-point mark. The increase in the headline PMI was driven by the business activity index, which jumped by almost 12 points to 50. This follows a large decline of almost 11 …
After what looks to have been a decent second quarter, at least in terms of quarterly growth momentum, the manufacturing sector had a setback at the start of the third quarter. This is the message from the latest seasonally adjusted Absa Purchasing Managers’ Index (PMI). Although the headline index was only marginally lower in July at 47.3 …
The seasonally adjusted Absa Purchasing Managers’ Index (PMI) declined by 1.6 index points to 47.6 in June 2023. This is the lowest level since mid-2021. For the first time since 2018, all five subcomponents used to calculate the headline PMI were below the neutral 50-point level, pointing to a worsening of business conditions in the …
The seasonally adjusted Absa Purchasing Managers’ Index (PMI) edged down to 49.2 in May 2023 from 49.8 in April. The headline index has now signalled a deterioration in business conditions for four consecutive months. In addition to the downbeat assessment of the current environment, respondents turned notably more negative about business conditions going forward. The index tracking expected …
The seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose to 49.8 index points in April 2023 from 48.1 in March. Despite the improvement, the index failed to edge back above the neutral 50-point mark as business activity and new sales orders worsened relative to March. Indeed, the headline PMI would have deteriorated further if not …
Absa Purchasing Managers’ Index (PMI) April 2023 Read More »
The seasonally adjusted Absa Purchasing Managers’ Index (PMI) ticked down slightly in March to 48.1 from 48.8 in February. After a solid start to the year, this was the second straight month that the index pointed to a deterioration in business conditions in the manufacturing sector. Still, when considering the performance of the business activity …
Absa Purchasing Managers’ Index (PMI) March 2023 Read More »
After surprising on the upside in January, the seasonally adjusted Absa Purchasing Managers’ Index (PMI) declined to 48.8 index points in February from 53 in January. This was the first time since September 2022 that the headline index fell below the neutral 50-point mark, pointing to a marked deterioration in business conditions in the factory …
Absa Purchasing Managers’ Index (PMI) February 2023 Read More »
The seasonally adjusted Absa Purchasing Managers’ Index (PMI) came in at 53.0 index points in January 2023 – virtually unchanged from 53.1 in December. A decline in the employment and new sales orders indices to levels below 50 were offset by higher activity and inventories returning to positive terrain. Most encouraging was the significant, and …
