Güney Afrika - Kompozit Pmi

The IHS Markit South Africa PMI declined to 48.6 in November of 2019 from 49.4 in the previous month. It was the seventh successive month of contraction in private activity and at the steepest pace since July, as output fell the most in a year, amid a further, though softer, decline in new orders. Consequently, both employment and stocks decreased. In terms of prices, overall input price inflation accelerated to a five-month high, mainly due to higher prices of fuel and metals as well as currency weakness. Accordingly, output charges ticked up. Finally, the outlook for activity among firms was broadly unchanged in November, posting a degree of optimism that was stronger than the average for 2019-to-date but weaker than the series average (since April 2012).

The IHS Markit South Africa PMI went up to 49.4 in October of 2019 from 49.2 in the previous month. It was the sixth successive month of contraction, as output dropped for sixth month running and new orders fell at fastest pace since July. Also, new export orders declined at the quickest rate since June and purchasing activity was broadly unchanged. On the upside, employment growth strengthened to a 18-month high. In terms of prices, input prices rose at a modest, but quicker, pace which fed through into a moderate uptick in selling charges. Finally, optimism regarding the outlook for activity rose the most since June, on hopes of an improvement in the domestic economy and foreign demand.

The IHS Markit South Africa PMI went down to 49.2 in September of 2019 from 49.7 in the previous month. It was the fifth successive month of contraction, as new orders continued to fall in September while both employment and purchasing activity went down. On the price front, input cost inflation slowed to a five-month low while output prices rose at a softer pace. Finally, the outlook for activity remained relatively subdued in September.

The IHS Markit South Africa PMI went up to 49.7 in August 2019 from 48.4 in the previous month, signalling a fourth successive month of deterioration in business conditions though less marked than in July. This was due in part to softer drops in output and new orders, as well as stabilised employment numbers. Meantime, input buying increased at the fastest pace since June 2018 and supplier delivery times were largely unchanged, after six months of deteriorating performance. In terms of prices, the rate of overall cost inflation slowed to a four-month low, whereas output prices were raised at a quicker pace. Lastly, optimism for future activity remained subdued, mainly reflecting the recent period of poorer economic conditions.

The IHS Markit South Africa PMI dropped to 48.4 in July 2019 from 49.7 in the previous month, signalling a third successive month of deterioration in business conditions that was also the sharpest since last November. New orders fell the most in nine months and output shrank for the third month running and at a faster rate than in June. In addition, job numbers decreased at a marginal rate that was nonetheless the joint-fastest in almost two years. On a positive note, cost inflation eased from June's eight-month high as many suppliers reduced their prices. Expectations for future output meanwhile dropped to a four-month low in July, mostly on the back of fewer sales and falling economic sentiment. However, new projects and store openings contributed to a still positive outlook on average.

The IHS Markit South Africa rose slightly to 49.7 in June 2019 from 49.3 in the prior month, pointing to a mild deterioration of operating conditions in the South African private sector. New orders fell further which led to a slight decline in output; and employment rose only marginally. Regarding prices, input inflation rose sharply amid the increase in fuel prices across the country, and inflationary effects from electricity bills and a weaker exchange rate owing to poor economic data. Meanwhile, selling charges rose at a moderate pace overall. Looking ahead, sentiment regarding future outlook reached the highest in 15 months, on expectations of better economic conditions as the new government term began.