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2026-04-07 16:02:30
[South Africa's March Private Sector Expansion Composite PMI Rises to 50.8] ⑴ The S&P Global South Africa Purchasing Managers' Index (PMI) rose to 50.8 in March from 50 in February, marking the first improvement in business conditions in six months. Output growth was the fastest in six months, while employment growth was stronger, and input inventories rose for the first time since November last year. ⑵ However, there are signs that increased economic uncertainty and supply chain disruptions caused by the Middle East wars are beginning to put pressure on the economy. New orders fell for the second consecutive month, and the decline accelerated, while export sales saw their biggest drop in more than two years. Supplier delivery times were extended to a 16-month high due to shipping disruptions in the Strait of Hormuz. ⑶ On the price front, input price inflation rose sharply, driven by rising fuel costs, a stronger dollar, and changes in the minimum wage, resulting in the largest increase in output prices in more than a year. Future activity expectations weakened further, falling to their lowest level since July 2021.
