South Africa Industrial production August 2021

South Africa

South Africa: Manufacturing production rebounds in August

October 12, 2021

Manufacturing output expanded 1.8% in year-on-year terms in August, which contrasted July's 4.8% decrease. The notable turnaround was largely driven by a notable rebound in food and beverages production. In addition, motor vehicles, parts and accessories, and other transport equipment output accelerated. Meanwhile, petroleum, chemical products, rubber and plastic products production continued to fall at a sharp, albeit softer, pace.

On a seasonally-adjusted monthly basis, manufacturing output rose 7.6% in August (July: -8.4% mom), the best result since June 2020. Accordingly, annual average manufacturing production growth rose to 5.8% in August (July: +4.5%), signalling an improving trend in the manufacturing sector.

FocusEconomics Consensus Forecast panelists project manufacturing output to expand 9.2% in 2021, which is up 1.1 percentage points from last month’s estimate. For 2022, the panel sees manufacturing output growing 2.0%, which is unchanged from last month’s forecast.


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South Africa Manufacturing August 2021

Note: Year-on-year changes and annual average growth of manufacturing production index in %.
Source: Statistics South Africa (Stats SA) and FocusEconomics calculations.


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