05.11.202607:15:00UTC+00South Africa’s Manufacturing PMI Holds at 49.0 in October, Signalling Ongoing Mild Contraction

South Africa’s factory activity remained subdued in October, with the S&P Global Manufacturing PMI unchanged at 49.0, matching September’s reading of 49.0. The indicator, released with updated data on 5 November 2026, continues to sit just below the 50.0 threshold that separates expansion from contraction, pointing to a second consecutive month of mild decline in manufacturing conditions.

The steady reading suggests that while the sector is not deteriorating sharply, it has yet to regain enough momentum to return to growth territory. The unchanged PMI level highlights a period of stagnation, with manufacturers likely facing ongoing headwinds that are keeping overall operating conditions marginally weaker than in previous expansionary phases.

With October marking another month below the 50.0 mark, investors and policymakers will be watching upcoming releases closely for signs of whether South Africa’s manufacturing sector can break out of this holding pattern or if prolonged sluggishness will begin to weigh more heavily on broader economic performance.