South Africa’s private-sector activity contracted in September, with the S&P Global Purchasing Managers’ Index (PMI) falling to 49.0 from 50.5 in August. This marks the lowest reading of 2026, driven by a combination of weak domestic demand, rising fuel costs, and intensified supply chain bottlenecks, particularly at the Port of Durban. While new orders declined at their fastest rate in over two years, firms remain cautiously optimistic about the year ahead, pinning hopes on future demand growth and a resolution to ongoing logistics challenges.