The Standard Bank Purchasing Managers' Index (PMI) is a composite gauge designed to give a single-figure snapshot of operating conditions in the South African private sector. It is derived from individual indices for new orders, output, employment, suppliers' delivery times, and stocks of purchases. A reading above 50.0 indicates an overall improvement in business conditions, while a reading below 50.0 signals a deterioration.
The index is compiled by S&P Global from responses to questionnaires sent to purchasing managers in a panel of around 400 private sector companies. The headline PMI is a weighted average of five sub-indices: New Orders (30%), Output (25%), Employment (20%), Suppliers’ Delivery Times (15%), and Stocks of Purchases (10%).
| Date | Actual | Forecast | Surprise |
|---|---|---|---|
| Apr 3, 2025 | 50.20 | 49.80 | +0.40 |
| Mar 5, 2025 | 50.90 | 50.00 | +0.90 |
| Feb 6, 2025 | 47.50 | 46.70 | +0.80 |
| Nov 5, 2024 | 50.20 | 49.00 | +1.20 |
| Oct 3, 2024 | 50.30 | 50.70 | -0.40 |
| Sep 4, 2024 | 50.90 | 51.00 | -0.10 |
| Aug 5, 2024 | 50.60 | 51.30 | -0.70 |
| Jul 3, 2024 | 51.00 | 51.00 | 0.00 |
| Jun 5, 2024 | 50.90 | 50.20 | +0.70 |
| May 6, 2024 | 49.90 | 49.00 | +0.90 |
| Apr 3, 2024 | 49.70 | 50.50 | -0.80 |
| Mar 5, 2024 | 50.70 | 47.50 | +3.20 |
| Feb 5, 2024 | 47.80 | 48.00 | -0.20 |
| Jan 4, 2024 | 48.40 | 49.30 | -0.90 |
| Dec 5, 2023 | 49.60 | 49.80 | -0.20 |
| Nov 3, 2023 | 50.00 | 50.00 | 0.00 |
The latest reading is within its usual range, less than one standard deviation from the mean.