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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
South AfricaSouth Africa IHS Markit PMI held to 50.9 in February 2022
FMPMonthlyReleased March 2022
South Africa IHS Markit PMI held to 50.9 in February 2022, released March 2022.
Latest Release
50.900000
Actual
—
Consensus
50.900000
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| USD/ZAR | ▼ Inverse | −0.50 | FOREX | Moves against | → View |
| EUR/ZAR | ▼ Inverse | −0.40 | FOREX | Moves against | → View |
| XAU/USD | ▲ Direct | +0.40 | COMMODITIES | Moves with | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Moves with | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
IHS Markit PMI (South Africa) was reported at 50.90 in March 2022. The reading was unchanged from the previous release.
WHY IT MATTERS
The trailing three releases averaged 50.07, down from the prior three at 50.33.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/ZAR (Bullish ZAR). A secondary relationship exists with XAU/USD, positively correlated (Watch).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Unemployment Rate (Aug 11).
Auto-generated from current model state · Refreshes on each release · Last update March 2022.
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IHS Markit PMI - ZA
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About IHS Markit PMI — South Africa
DEFINITION
IHS Markit PMI (Purchasing Managers' Index) is a widely recognized financial indicator that measures the economic health of a country's manufacturing sector. It provides valuable insights into the current and future trends of production, new orders, employment, and supplier deliveries. This data is collected through surveys of purchasing managers in various industries and is used by businesses, investors, and policymakers to make informed decisions. With its timely and accurate information, IHS Markit PMI is a crucial tool for understanding the overall economic performance of a country.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Feb 2022): actual 50.9. Prior reading (Jan 2022): 50.9. Before that (Dec 2021): 48.4.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with USD/ZAR (Bullish ZAR, r=-0.50) — a useful reference for forex-focused traders.
Σ
EXPECTED ZONE
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Economic Calendar - ZA Events
| Thursday, July 30, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 09:30 | ZA | Producer Price Index MoM | -0.1 | 2.6 | 1.8 | 0.85 | Low |
| 09:30 | ZA | Producer Price Index YoY | 7.5 | 7.8 | 8.2 | 7.85 | Low |
| 12:00 | ZA | Budget Balance | 80.13 | -14.62 | 57 | 68.56 | Low |