FX.co ★ South Africa’s Manufacturing PMI Slips Further Into Contraction in July

South Africa’s manufacturing sector remained under pressure in July 2026, with the Manufacturing Purchasing Managers’ Index (PMI) edging down to 46.8 from 47.3 in June. The latest reading, updated on 3 August 2026, signals a deeper move into contraction territory, as PMI levels below 50 indicate a decline in overall manufacturing activity.

The July downturn suggests that conditions for South African manufacturers continued to deteriorate month-on-month, albeit at a modest pace. The slip from June’s level points to ongoing headwinds for output, new orders and factory sentiment through mid-2026, keeping the sector on a weaker footing as the third quarter begins.