Sud Africa Pmi Composite

The S&P Global South Africa PMI fell to 50.6 in October 2024, down from a 13-month high of 51.0 in September, indicating continued but slower private sector growth. Business activity and new orders rose for the second month, driven by improved economic conditions and increased sales. However, the pace of expansion for new orders slowed to a marginal rate, with only two of the four broad sectors reporting sales growth. Despite these operational improvements, firms continued to reduce staffing, extending the current decline to five months. On the pricing front, input costs dropped for the first time in over four years due to lower fuel prices and a stronger rand, causing selling prices to fall at the fastest rate since July 2020. Looking ahead, business confidence improved, bolstered by expectations of reduced load shedding, political stability, and lower interest rates.