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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
South AfricaSouth Africa Standard Bank PMI fell to 50.3 in November 2020
FMPMonthlyReleased December 2020
South Africa Standard Bank PMI fell to 50.3 in November 2020, released December 2020, down 0.7 from October's 51 reading.
Latest Release
50.300000
Actual
—
Consensus
51.000000
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
Standard Bank PMI (South Africa) was reported at 50.30 in December 2020. The reading fell from the previous value of 51.00.
WHY IT MATTERS
The trailing three releases averaged 50.23, up from the prior three at 44.23.
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 (Jul 31) and Unemployment Rate (Aug 11).
Auto-generated from current model state · Refreshes on each release · Last update December 2020.
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Standard Bank PMI - ZA
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About Standard Bank PMI — South Africa
DEFINITION
The Standard Bank PMI (Purchasing Managers' Index) is a widely recognized economic indicator that measures the performance of the manufacturing sector in a country. It is based on a monthly survey of purchasing managers from various industries, providing valuable insights into the overall health and direction of the economy. The index is calculated using a scale of 0-100, with a reading above 50 indicating expansion in the manufacturing sector and below 50 indicating contraction. The Standard Bank PMI is a key tool for investors, businesses, and policymakers to assess the current and future economic conditions and make informed decisions.
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 (Nov 2020): actual 50.3. Prior reading (Nov 2020): 50.3. Before that (Oct 2020): 51.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook diverging from that direction. The 1-month and 3-month horizons disagree, suggesting a mixed 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.
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 |