SEIFSA welcomes rebound in the purchasing manager’s index for March 2020

1st April 2020

By: Creamer Media Reporter

     

Font size: - +

The Steel and Engineering Industries Federation of Southern Africa (SEIFSA) welcomes the latest ABSA Purchasing Managers’ Index (PMI) data, which reflects an increase in overall business activity in the broader manufacturing sector for March 2020.

The composite PMI data for March 2020 shows that industrial activity improved to 48.1 points, up from the 44.3 points recorded in February 2020, moving the index closer to the benchmark level of 50, which separates expansion from contraction.

Speaking after the release of the data this morning, SEIFSA Economist Marique Kruger said it is also encouraging to note that the majority of the seasonally-adjusted sub-components correspondingly registered increases in March 2020 when compared to February 2020.

Of the five sub-components, the supplier performance sub-index increased the most, surging from 58.6 points in February 2020 to 67.4 points in March 2020, while the worst-performing sub-index was the business activity sub-index, decreasing from 33.7 points in February 2020 to 30.7 points in March 2020.

Despite the improvement, Ms Kruger said that the PMI trend is still very volatile, highlighting the underlying constraints facing businesses.

“Companies still have to deal with fluctuating input costs, increasing energy costs, volatility in the exchange rate and the global corona virus pandemic,” she said.

Edited by Creamer Media Reporter

Comments

The functionality you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION