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Petrol price (Gauteng) = 22.95/litre  Petrol price (Coastal) = 22.3/litre  CPI February '23 = 7% y-o-y  PPI manufacturing January '23 = 12.7%  GDP growth Q3 = 4% y-o-y  Prime interest rate = 10.5%  Unemployment rate Q4 = 32.7%  Retail sales January '23 = -0.8% y-o-y  Manufacturing output January '23 = -3.7% y-o-y 
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Absa PMI

The Absa Purchasing Managers’ Index™ (PMI™) compiled by the Bureau for Economic Research (BER) and sponsored by Absa, is based on the widely used and highly regarded Purchasing Managers Index (PMI) produced by the Institute for Supply Management (ISM) in the USA.

The headline PMI is calculated as the weighted average of the following indices (weights in parentheses): Business Activity (0.20), New Orders (0.20), Employment (0.20), Supplier Deliveries (0.20) and Inventories (0.20). Note that the inverse of the Supplier Deliveries index is used in the PMI calculation.

The survey from which the indices are compiled require the respondents to indicate each month, whether a particular activity (e.g. production) for their company has increased, decreased or remained unchanged. The indices are then calculated by taking the percentage of respondents that reported an increase and adding it to one-half of the percentage that reported no change. This results in an index for which a value of 50 indicates no change in the activity, a value above 50 indicates increased activity and a value below 50 indicates decreased activity.

Download this file for more details of the South African manufacturing PMI as well as definitions to use with the interpretation of the survey questionnaire (updated November 2020).

Absa PMI (History Data)

Date Uploaded: Mar 1 2023 11:00AM

After surprising on the upside in January, the seasonally adjusted Absa Purchasing Managers’ Index (PMI) declined to 48.8 index points in February. This was the first time since September 2022 that the headline index fell below the neutral 50-point mark, read more
After surprising on the upside in January, the seasonally adjusted Absa Purchasing Managers’ Index (PMI) declined to 48.8 index points in February. This was the first time since September 2022 that the headline index fell below the neutral 50-point mark, pointing to a marked deterioration in business conditions in the factory sector.


Absa PMI, February 2023

Date Uploaded: Mar 1 2023 11:00AM

After surprising on the upside in January, the seasonally adjusted Absa Purchasing Managers’ Index (PMI) declined to 48.8 index points in February. This was the first time since September 2022 that the headline index fell below the neutral 50-point mark, read more
After surprising on the upside in January, the seasonally adjusted Absa Purchasing Managers’ Index (PMI) declined to 48.8 index points in February. This was the first time since September 2022 that the headline index fell below the neutral 50-point mark, pointing to a marked deterioration in business conditions in the factory sector.


Absa PMI, January 2023

Date Uploaded: Feb 1 2023 11:00AM

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) came in at 53.0 index points in January 2023 – virtually unchanged from 53.1 in December.


Absa PMI, December 2022

Date Uploaded: Jan 6 2023 11:30AM

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose for a third month to reach 53.1 index points in December 2022, slightly up from 52.6 in November. While the headline number is positive, the underlying picture is more mixed. Most concerning read more
The seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose for a third month to reach 53.1 index points in December 2022, slightly up from 52.6 in November. While the headline number is positive, the underlying picture is more mixed. Most concerning was the business activity index which deteriorated further in December. This is indicative of weak underlying momentum in the sector.


Absa PMI, November 2022

Date Uploaded: Dec 1 2022 11:00AM

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose firmly back into expansionary terrain in November. The index rose to 52.6 points, up from 50 in October and an average level of 49.6 recorded in the third quarter. read more
The seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose firmly back into expansionary terrain in November. The index rose to 52.6 points, up from 50 in October and an average level of 49.6 recorded in the third quarter.


Absa PMI, October 2022

Date Uploaded: Nov 1 2022 11:00AM

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose from 48.2 index points in September to 50 in October. This is slightly better than the average recorded during the previous quarter (49.6). However, the Transnet strike and faltering global read more
The seasonally adjusted Absa Purchasing Managers’ Index (PMI) rose from 48.2 index points in September to 50 in October. This is slightly better than the average recorded during the previous quarter (49.6). However, the Transnet strike and faltering global demand likely hurt exports, while persistent load-shedding capped the recovery in activity and demand.


Absa PMI, September 2022

Date Uploaded: Oct 3 2022 11:00AM

Following a rebound in August, the Absa PMI once again declined in September. The index fell to 48.2, from 52.1 in August and averaged 49.3 points in Q3. More intense load-shedding during the month was likely to blame for the decline relative to August. read more
Following a rebound in August, the Absa PMI once again declined in September. The index fell to 48.2, from 52.1 in August and averaged 49.3 points in Q3. More intense load-shedding during the month was likely to blame for the decline relative to August. Overall, the PMI results do not bode well for a strong recovery in actual manufacturing production from a bleak Q2.


Absa PMI, August 2022

Date Uploaded: Sep 1 2022 11:00AM

Following a tough start to the third quarter, an easing in the intensity of load-shedding meant that conditions in the manufacturing sector improved in August 2022 relative to July. The seasonally adjusted Absa Purchasing Managers’ Index (PMI) ticked up to read more
Following a tough start to the third quarter, an easing in the intensity of load-shedding meant that conditions in the manufacturing sector improved in August 2022 relative to July. The seasonally adjusted Absa Purchasing Managers’ Index (PMI) ticked up to 52.1 points in August from 47.6 in the prior month.


Absa PMI, July 2022

Date Uploaded: Aug 1 2022 11:00AM

The further decline in the seasonally adjusted Absa Purchasing Managers’ Index (PMI) suggests that the manufacturing sector experienced a tough start to the third quarter following a weak second quarter. The headline index fell from 52.2 points in June to read more
The further decline in the seasonally adjusted Absa Purchasing Managers’ Index (PMI) suggests that the manufacturing sector experienced a tough start to the third quarter following a weak second quarter. The headline index fell from 52.2 points in June to 47.6 in July . This is the first reading below the neutral 50-point threshold since July 2021 when the looting and unrest in KwaZulu-Natal and Gauteng hurt output. Electricity supply disruptions were the likely cause of the drop in production last month.


Absa PMI, June 2022

Date Uploaded: Jul 1 2022 11:00AM

The seasonally adjusted Absa Purchasing Managers’ Index (PMI) declined to 52.2 index points in June from 54.8 in May. However, the headline PMI masks a worrying deterioration in demand and activity during the month. The business activity index signalled a read more
The seasonally adjusted Absa Purchasing Managers’ Index (PMI) declined to 52.2 index points in June from 54.8 in May. However, the headline PMI masks a worrying deterioration in demand and activity during the month. The business activity index signalled a contraction in output for a third consecutive month.


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