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Purchasing Managers' Index

The Purchasing Managers' Index is a monthly economic indicator that measures the prevailing direction of trends in the manufacturing and services sectors. The index is based on surveys of private-sector purchasing managers who report on key business conditions at their companies, including new orders, inventory levels, production, supplier deliveries and employment. Respondents indicate whether conditions are improving, staying the same or deteriorating, and the results are compiled into a diffusion index where a reading above 50 indicates expansion, below 50 signals contraction, and 50 represents no change. The PMI is considered a leading indicator of economic health because purchasing managers have early insight into company performance and supply-chain dynamics. Major economies publish their own PMI data, compiled by organisations such as S&P Global and national industry bodies, with manufacturing and services indices often released separately. In South Africa, Absa publishes a widely watched manufacturing PMI that tracks sentiment and activity in the country's industrial sector. The index is closely monitored by policymakers, investors and analysts as a timely gauge of economic momentum, often moving markets when released. Because the survey is conducted monthly and published quickly, the PMI typically provides insight into economic conditions before official statistics such as GDP become available. The methodology and weighting of sub-components can vary slightly between countries, but the core principle of surveying purchasing managers for forward-looking sentiment remains consistent globally.

Purchasing Managers' Index Updates


JHB skyline
South Africa private sector contracts after four months of growth, PMI shows
3rd June 2026 By: Reuters

South Africa's private sector contracted in May as output and new orders fell amid higher fuel prices and uncertainty linked to the Iran war, a business survey showed on Wednesday. The S&P Global... 


Absa PMI declines in May, but remains above neutral mark
Absa PMI declines in May, but remains above neutral mark
1st June 2026 By: Sabrina Jardim

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) remained above the neutral 50-point mark for a second consecutive month, although the index declined by 1.8 points to 50.8 in May from... 


S&P expects sub-Saharan Africa’s growth to remain stable despite global headwinds
13th May 2026 By: Schalk Burger

While global growth is expected to slow to 2.4% for the year, down from the previously projected 2.9%, growth in sub-Saharan Africa is still expected to reach 4.1% this year and 3.8% in 2027,... 


People meeting in a boardroom
S&P PMI at 44-month high in April, but input cost pressures soar to a 30-month high
6th May 2026 By: Tasneem Bulbulia

The S&P Global South Africa Purchasing Managers’ Index (PMI) rose to a 44-month high in April, which S&P Global Market Intelligence senior economist David Owen says marked a surprise boost to the... 


Absa PMI up 3.6 points in April following weak first quarter
Absa PMI up 3.6 points in April following weak first quarter
4th May 2026 By: Sabrina Jardim

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose above the neutral 50-point mark for the first time since September 2025, increasing to 52.6 in April, from 49 in March. The... 


The Johannesburg skyline
South Africa's business activity remains stable in February, S&P PMI shows
4th March 2026 By: Reuters

South Africa's private sector activity held steady in February, with the Purchasing Managers' Index holding at 50 for the second straight month, an S&P Global survey showed on Wednesday.  While... 


HOPEFUL NOTE: The seasonally adjusted Absa Purchasing Managers' Index (PMI) rose by 8.2 points to 48.7 in January, marking a significant recovery from December’s slump. Although still below the neutral 50-point mark, the size of the improvement is notable, with Absa saying the January results suggest that 2026 has started on a more hopeful note. Signs of improving activity, easing input costs, and stronger domestic demand are providing early momentum. Photograph: Creamer Media
HOPEFUL NOTE
13th February 2026 By: Terence Creamer

The seasonally adjusted Absa Purchasing Managers' Index (PMI) rose by 8.2 points to 48.7 in January, marking a significant recovery from December’s slump. Although still below the neutral 50-point... 


A pet food manufacturing plant
ABSA PMI rises by 8.2 points in Jan but remains below the neutral mark
2nd February 2026 By: Schalk Burger

The seasonally adjusted Absa Purchasing Managers' Index (PMI) rose by 8.2 points to 48.7 in January, marking a significant recovery from December’s slump, says financial services firm Absa.... 


Private sector activity continued to soften in November – S&P PMI
3rd December 2025 By: Schalk Burger

South African firms saw a further decline in business conditions in November, signalling a weak end to 2025 after the contraction in October. Output and new orders decreased for a second month... 


manufacturing sparks
Manufacturing PMI drops sharply in November
1st December 2025 By: Darren Parker

South Africa’s seasonally adjusted Absa Purchasing Managers’ Index (PMI) fell by 7.2 index points to 42 in November, with Absa reporting that the decline was driven by deteriorations in four of the... 


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