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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
South AfricaSouth Africa KAGISO Manufacturing PMI fell to 47.4 in April 2014
FMPMonthlyReleased May 2014
South Africa KAGISO Manufacturing PMI fell to 47.4 in April 2014, released May 2014, down 2.9 from March's 50.3 reading. The reading missed the 50.2 consensus by 2.8. The print is running well below the 12-month average of 50.5.
Latest Release
47.4
Actual
50.2
Consensus
50.3
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 | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/ZAR | ▼ Inverse | −0.50 | FOREX | Bullish ZAR | → View |
| EUR/ZAR | ▼ Inverse | −0.40 | FOREX | Bullish ZAR | → View |
| XAU/USD | ▲ Direct | +0.40 | COMMODITIES | Watch | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
KAGISO Manufacturing PMI (South Africa) was reported at 51.40 in August 2015. The reading was unchanged from the previous release. This is classified as a medium-impact indicator released on a monthly basis.
WHY IT MATTERS
The trailing three releases averaged 51.20, up from the prior three at 46.97.
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 Balance of Trade (Jun 30).
Auto-generated from current model state · Refreshes on each release · Last update August 2015.
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KAGISO Manufacturing PMI - ZA
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About KAGISO Manufacturing PMI — South Africa
DEFINITION
The KAGISO Manufacturing PMI is a widely recognized financial indicator that measures the performance of the manufacturing sector in South Africa. It provides valuable insights into the overall health and growth of the country's manufacturing industry, taking into account factors such as production levels, new orders, employment, and supplier deliveries. This indicator is used by investors, businesses, and policymakers to make informed decisions and assess the economic outlook of the manufacturing sector in South Africa.
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. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jul 2015): actual 51.4. Prior reading (Jun 2015): 51.4. Before that (May 2015): 50.8.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/ZAR (Bullish ZAR, r=-0.50) — a useful reference for forex-focused traders.