FX.co ★ South Africa’s Manufacturing PMI Edges Closer to Expansion in March

South Africa’s manufacturing sector showed signs of stabilisation in March 2026, as the Manufacturing Purchasing Managers’ Index (PMI) climbed to 49.0 from 47.4 in February 2026. The latest reading, updated on 1 April 2026, indicates that while the sector remains in contraction territory, it is moving closer to the 50-point threshold that separates contraction from expansion.

The improvement in the PMI suggests that conditions in the manufacturing industry may be gradually improving after a weaker performance earlier in the year. Although still below 50, the rise in the index could reflect easing pressures on output and demand, and may be interpreted by market participants as an early sign of a potential turnaround if the trend continues in the coming months.